From time to time, the Singularity Hub editorial team unearths a gem from the archives and wants to share it all over again. It's usually a piece that was popular back then and we think is still relevant now. This is one of those articles. It was originally published August 10, 2010. We hope you enjoy it!
The Darren Aronofsky film Pi features a mathematician with the uncanny ability to perform complex arithmetic in his head. Notwithstanding his talent, he uses a computer to make stock predictions. In one scene, after recognizing a predictive pattern in a 216-digit output, the character becomes so overwhelmed that he passes out. This scenario is science fiction, but computers have long had greater processing power than humans. When used to build artificial intelligence (AI), as its datasets grow, so does a computer's advantage.
"Breaking: Two Explosions in the White House and Barack Obama is injured." At the time of the tweet, AP's account had around two million followers. The post was favourited, retweeted, and spread. At 13:13, AP confirmed the tweet was fake. Three minutes later, then-White House press spokesman, Jay Carney, confirmed that there had been no explosion and that the president was alive and well.
These use neural networks to predict behaviour, financial indicators and so on. "In the history of finance there has always been fraud," says WIRED Money 2017 speakerJoern Leogrande, executive vice president of mobile services at Wirecard. But from a retailer's perspective, you have to do something about this because what we see - and this is pretty obvious - is the kind of power and investment technology companies like Amazon are stepping into… There is tremendous change coming." Fintech aspires to the same promise, and services like Wirecard, Nutmeg, Schmidhuber's lab's work on AI that can outthink a human banker or trader by a thousand-fold, are examples of how it can deliver.
WIRED Money takes place in Studio Spaces, London on May 18, 2017. For more details and to purchase your ticket visit wiredevent.co.uk "Breaking: Two Explosions in the White House and Barack Obama is injured." At the time of the tweet, AP's account had around two million followers. The post was favourited, retweeted, and spread. At 13:13, AP confirmed the tweet was fake.