Tag Archives: artificial intelligence

Even the Masters of the Universe Are Threatened As Goldman Embraces Automation

Description:   At its height back in 2000, the U.S. cash equities trading desk at Goldman Sachs’s New York headquarters employed 600 traders, buying and selling stock on the orders of the investment bank’s large clients. Today there are just two equity traders left.

Source: MIT Technology Review

Date: Feb 7, 2017

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The experience of its New York traders is just one early example of a transformation of Goldman Sachs, and increasingly other Wall Street firms, that began with the rise in computerized trading, but has accelerated over the past five years, moving into more fields of finance that humans once dominated. Chavez, who will become chief financial officer in April, says areas of trading like currencies and even parts of business lines like investment banking are moving in the same automated direction that equities have already traveled.

Today, nearly 45 percent of trading is done electronically, according to Coalition, a U.K. firm that tracks the industry. In addition to back-office clerical workers, on Wall Street machines are replacing a lot of highly paid people, too.   READ REST OF STORY

 Questions for discussion:

1. Do you feel that that Computerized trading and AI will make the financial industry almost a employee less industry ?  Why or Why not?

2.  Do you feel that Government industries are susceptible to this sort of computerization and AI to reduces Public service employees in Canada by a significant amount?   explain

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IBM Gives Watson a New Challenge: Your Tax Return

Description:  In its first steps toward commercialization, IBM’s Watson took on grand, science-laden challenges like helping doctors diagnose cancer. But that is changing as IBM strives to build its artificial intelligence technology into a multibillion-dollar business.

Source: NYTimes.com

Date: Feb 1, 2017

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Today, companies including Geico, Staples and Macy’s are adding the Watson technology to answer customer questions or to improve mobile apps that guide shoppers through stores.

Now in its broadest deployment so far, Watson will be assisting H&R Block’s 70,000 tax professionals this filing season at 10,000 branch offices across the country, where 11 million people file taxes.

The H&R Block partnership with Watson, announced on Wednesday, is being presented to a wider audience with a 60-second television ad during the Super Bowl on Sunday.

For IBM, the collaboration with H&R Block underlines its strategy in the emerging market for artificial intelligence technology. Watson will touch consumers, but through IBM’s corporate clients.

READ REST OF STORY

 

 Questions for discussion:

1. Do you feel that that IBM’s strategy of using Watson’s AI to touch corporate clients and not consumers will succeed?  Why or Why not?

2.  What are some applications of Watson AI that you would find exciting as a manager of a business?

The Real Threat Posed by Powerful Computers

Description: Elon Musk called artificial intelligence “our greatest existential threat,” and equated making machines that think with “summoning the demon.”

Source: http://www.nytimes.com

Date: July 11, 2015

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But if the human race is at peril from killer robots, the problem is probably not artificial intelligence. It is more likely to be artificial stupidity. The difference between those two ideas says much about how we think about computers.

In the kind of artificial intelligence, or A.I., that most people seem to worry about, computers decide people are a bad idea, so they kill them. That is undeniably bad for the human race, but it is a potentially smart move by the computers.    Read Rest of Story

Questions for discussion:

1.Should ethical standards be put in place before we allow industry to develop A.I. any further? Why or Why Not??

2. What benefits can you see with using A.I. as a company?

3.  If your company decided on a tactic of using A.I.  would it give your firm a competitive advantage?  Explain why or why not?

 

Doctor in a box

Description: Imagine a quick, inexpensive trip to the doctor at all hours of the night.

Source: www.cnn.com

Date: Jan 15, 2013

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click on link to watch video      http://cnn.com/video/?/video/tech/2013/01/15/dnt-oh-portable-doctors-office.wjw

 Questions for discussion:

1.  Do you feel that this type of health care has a bright future? Why or Why not?

2.  What situations would this type of medical care be most appropriate or advantageous?

Find a Doctor in a box

Description: Imagine a quick, inexpensive trip to the doctor at all hours of the night.

Source: www.cnn.com

Date: Jan 15, 2013

20825-62480

click on link to watch video      http://cnn.com/video/?/video/tech/2013/01/15/dnt-oh-portable-doctors-office.wjw

 Questions for discussion:

1.  Do you feel that this type of health care has a bright future? Why or Why not?

2.  What situations would this type of medical care be most appropriate or advantageous?