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TheToolman

AI has taken over the stock market....

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Wells Fargo’s Artificial Intelligence Defies Analysts, Slaps “Sell” on Google and Facebook

Google, which makes almost all of its money on ads and internet user data, is undertaking herculean efforts to get a grip on artificial intelligence (AI). It’s trying to develop software that allows machines to think and learn like humans. It’s spending enormous resources on it. This includes the $525 million acquisition in 2014 of DeepMind, which is said to have lost an additional $162 million in 2016. Google is trying to load smartphones with AI and come up with AI smart speakers and other gadgets, and ultimately AI systems that control self-driving cars.

Facebook, which also makes most of its money on ads and user data, is on a similar trajectory, but spreading into other directions, including a “creepy” run-in with two of its bots that were supposed to negotiate with each other but ended up drifting off human language and invented their own languagethat humans couldn’t understand.

And here comes an AI bot developed by stock analysts at Wells Fargo Securities. The human analysts have an “outperform” rating on Google’s parent Alphabet and on Facebook. They worked with a data scientist at Amazon’s Alexa project to create the AI bot. And after six months of work, the AI bot was allowed to do its job. According to their note to clients on Friday, reported by Bloomberg, the AI bot promptly slapped a “sell” rating on Google and Facebook.

Human analysts on Wall Street are famous for their incessantly optimistic ratings and outlooks. They generally only put a “sell” on a stock after it has already plunged. They’re part of Wall Street’s human hype machine. Their job is to help inflate stock prices and make CEOs feel good so that they will do business with the analysts’ firms and send fees their way. But Wells Fargo’s AI bot hasn’t gotten the memo.

And here comes an AI bot developed by stock analysts at Wells Fargo Securities. The human analysts have an “outperform” rating on Google’s parent Alphabet and on Facebook. They worked with a data scientist at Amazon’s Alexa project to create the AI bot. And after six months of work, the AI bot was allowed to do its job. According to their note to clients on Friday, reported by Bloomberg, the AI bot promptly slapped a “sell” rating on Google and Facebook.

https://wolfstreet.com/2017/10/07/wells-fargos-artificial-intelligence-defies-analysts-slaps-sell-on-google-and-facebook/

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From the video, the AI combs through 48,000 articles and takes the biases out and gives an opinion on buy, sell or hold.

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3 hours ago, TheToolman said:

and ultimately AI systems that control self-driving cars.

I assume these systems use GPS, is that correct?

Just if so I read decades ago that the military used to introduce an error rate in civilian GPS which they've probably removed by now because otherwise the self-drive prototypes wouldn't work. Military GPS was also more accurate.

But it occurs something like that could still be done indeed it's no doubt one of the first things to be attempted on enemy systems in event of war. So if it can be done it makes self-drive highly vulnerable, doesn't it. 

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I'd like to see what the AI says about Washington DC. Probably something like "erase and start over". 

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