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The scenario referred to in the title, "financial devices that only AI can understand, that no human being can understand", seems rather silly. If by "devices
by T-A 3y ago
The scenario referred to in the title, "financial devices that only AI can
understand, that no human being can understand", seems rather silly.
If by "devices" he means automated trading systems, those have been around for decades, they already account for most trading activity, and no human can understand their collective behavior. They are controlled the same way as human traders: by imposing hard constraints on what they are allowed to do.
If by "devices" he means financial instruments, consider how long it took for Bitcoin futures and ETFs to be approved by the CFTC and SEC (the latter still hadn't approved a spot Bitcoin ETF last time I checked, only ones holding futures or Bitcoin company stocks). How likely would they be to authorize financial instruments "that no human being can understand"?
- olddustytrail 3y agoThey mean devices that you aren't intelligent enough to understand. The fact that you don't even understand the description isn't a great booster to your counter argument.
- T-A 3y ago> They mean devices that you aren't intelligent enough to understand. They don't even define what they mean by "device", nor do they try to explain why regulatory bodies would allow something nobody understands into the financial system. > The fact that you don't even understand the description isn't a great booster to your counter argument. The fact that they provide no description for anyone to understand isn't a great booster for their argument, nor for your attempt to support it.