In my SBA course, we explored how human judgment and decision-making can often be outperformed by out-performed by algorithms, especially in oft-repeated data-rich situations which are largely rules-based.
In a cool 15 minute TED Talk (my all time favorite), tech entrepreneur Kevin Slavin tells how algorithms have reached across industries and into every day life.
A couple of lines caught my attention:
- There are more than 2,000 physicists working on Wall Street developing operational algorithms
- Massive scale speed trading is dependent on millisecond read & respond rates …
- So, firms are physically literally locating right next to internet routing hubs to cut transmission times
- And, of course, there isn’t time for human intervention and control
- “We may be building whole worlds we don’t really understand, and can’t control.”
Worth listening to this pitch … a very engaging geek who may be onto something big.