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Did AI Cause The Financial Crisis?
“One of the many interesting aspects of the current global financial crisis is the role that artificial intelligence and advanced computer software has played in it.”
Ben Goertzel, the CEO of both Novamente and Biomind — both AI companies — points to the “narrow AI” software that recognizes subtle nonlinear patterns in financial data, and asks what’s learned from its performance leading up to the global financial crisis.
“The root of the problem really came down to the ways people chose to use this software to serve their own ends,” he argues. “On the other hand, it’s hard to say exactly how long it will take for AI to achieve the needed understanding of context, to avoid this sort of ‘minor glitch.’”
