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"My problem with this argument is that there is no logical basis for how exactly human intelligence is different." I can give you a partial answer, which is th
by jerf 8y ago
"My problem with this argument is that there is no logical basis for how exactly human intelligence is different."
I can give you a partial answer, which is that human intelligence is somewhat slower, which mitigates the ability to crash the entire economy in 15 seconds. That's why a stock market can crash in 15 seconds nowadays, but "the housing market" can't. This gives people some time to do some things about it with some degree of thought, rather than all the agents in the system suddenly being forced to act in whatever manner they can afford to act with 15 milliseconds of computation to decide.
- robbiep 8y agoThat’s also why there are trading halts built into all major exchanges, so if something triggers a large fall, there is a circuit breaker in the decision process of 18-48 hours for people to process and digest information
- gricardo99 8y agoJust FYI, NYSE Rule 80B[1] halts trading for 15 minutes, or until the next day if the first 2 levels are breached. CME follows similar rules. 1 - http://wallstreet.cch.com/nyse/rules/nyse-rules/chp_1_3/chp_1_3_4/chp_1_3_4_21/default.asp http://wallstreet.cch.com/nyse/rules/nyse-rules/chp_1_3/chp_...
- greenyouse 8y agoJust for fun here's a link to a 2010 flash crash before those rules were in place where a trillion dollars were dropped in half an hour due to algorithms. https://en.wikipedia.org/wiki/2010_Flash_Crash https://en.wikipedia.org/wiki/2010_Flash_Crash
- scotty79 8y agoMaybe if economy can be crashed in 15 seconds it should be crashed in 15 seconds do we can have a saner economy? Letting AI in is like fuzzing for computer programs. It can break your program in interesting ways but that's a good thing.
- bartread 8y ago> Maybe if economy can be crashed in 15 seconds it should be crashed in 15 seconds do we can have a saner economy? How do you know that would be the outcome?
- adrianN 8y agoNumbers getting smaller on the stock market doesn't destroy any real value. Companies still have all the IP they had before, all the real estate, all machines... If the bits in some computer's RAM are so disconnected from reality that they can change so dramatically without any catastrophe in the real world, then the rational choice is to disregard those bits.
- phildawes 8y agoCrashed markets reflect a real difference in what people are prepared to pay for assets. That has a real direct impact on how people plan and behave.
- raz32dust 8y agoSlower only because humans need more time to arrive at the same conclusions, and use more data points. Either one can be made true of computers too.