It is ‘nearly unavoidable’ that AI will cause a financial crash within a decade, SEC head says::undefined

  • @[email protected]
    link
    fedilink
    English
    322 years ago

    They’ve been fucking with automated trading for decades though, unless you’re going to try to convince me that there’s a human investing in a trillionth of a company for a hundredth of a second at a time.

    It’s already caused “flash crashes” before. https://en.wikipedia.org/wiki/2010_flash_crash

    The idea of investing in companies because you believe in them and want a share of their profits is sound enough I guess, but what it’s morphed into is nonsense. The result is a system where you have trillion dollar companies that never actually turn a profit in favour of “growth”.