If an equities-trading AI were to gather a significant proportion of the world’s wealth—not just the billions gained by hedge funds today, but trillions and more—that would give sigificant power to its masters. Not total paperclip-the-world power, not even World Emperor power, but enough power to potentially leverage in dangerous new directions, not least of which is research into even more general and powerful AI.
Errhh.. no, it would discredit either electronic trading, or finance full stop. The world would shut down the stockmarkets permanently rather than tolerate that level of dominance from a single actor. No-kidding, the most likely result of this is a world where if you want to buy stock you bloody well show up in person on the trading floor and sign physical paperwork. In blood so they can check you are not a robot.
So, the logic here is not really different from an AI than ran a shipping conglomerate of self-driving cars, trains, boats and planes? Just a business that makes money which the AI can use.
The trader AI would concern me-I guess I would be even more concerned about the shipping conglomerate, because it knows how to interact with the physical world effectively.
If an equities-trading AI were to gather a significant proportion of the world’s wealth—not just the billions gained by hedge funds today, but trillions and more—that would give sigificant power to its masters. Not total paperclip-the-world power, not even World Emperor power, but enough power to potentially leverage in dangerous new directions, not least of which is research into even more general and powerful AI.
Errhh.. no, it would discredit either electronic trading, or finance full stop. The world would shut down the stockmarkets permanently rather than tolerate that level of dominance from a single actor. No-kidding, the most likely result of this is a world where if you want to buy stock you bloody well show up in person on the trading floor and sign physical paperwork. In blood so they can check you are not a robot.
So, the logic here is not really different from an AI than ran a shipping conglomerate of self-driving cars, trains, boats and planes? Just a business that makes money which the AI can use.
The trader AI would concern me-I guess I would be even more concerned about the shipping conglomerate, because it knows how to interact with the physical world effectively.