Specialised AI that will replace many white-collar jobs is slowly becoming a reality. Managers are a profession quite easy to replace – they produce hardly anything and base their actions on algorithms and procedures. Computers are much better at algorithms and procedures. They carry them out much faster, without relying on emotional judgments. Ray Dalio has been experimenting with such an approach, raising a lot of controversy. This must have been the first time that the media expressed concern about the future of high-salaried investment managers. Seems symptomatic, doesn't it?
📈 Specialised AI will help us make better decisions. People aren't very good at making decisions.They will very often arrive at different decisions based on the same input data because they can't properly separate noise from the relevant data, e.g. time pressure, tiredness, emotions.
💻Ray Dalio, one of the best and the most controversial American investors, seems to have an unyielding belief that AI will efficiently support investment managers in his company, and he's currently developing a project which will enable that.
👾 Machine learning is being applied in an ever-growing number of areas. For example, Google now uses ML to cut down the amount of transferred data in Google+ photos.
🌎 I've just come across a great interview about the Internet with David Bowie from the year 1999. Bowie was absolutely fascinated with the Web. He was confident that the Internet had a great potential, that it was nihilistic and chaotic, and that it will have a significant impact on the society – both positive and negative. Bowie's analysis hasn't lost any of its accuracy now, and we could apply it directly to the present debate about information bubbles, the Balkanisation of the media and fake news. A highly recommended read.
🤖 So how does the brain work? We very often hear people say that it works analogically to computers. But our brain is NOT a computer. Allegedly, our pre-computer-era ancestors used other analogies to explain the workings of the human mind, which were based on the most advanced technologies of their times. First, they thought that the mind works like a hydraulic system. Then, a metaphor of cogs, springs and machines became prevalent. And so on. Every metaphor, or analogy, of this kind oversimplifies how we think about thinking and the brain, and does not bring us any nearer to discovering the truth about our most important organ.