AI is in control of common reality!

If you did not believe before that AI (artificial intelligence) was in control of things then check this out!

Knight's future in balance after trading disaster!!!

"NEW YORK (Reuters) - Knight Capital Group Inc fought for survival on Thursday after a $440 million trading loss caused by a software glitch wiped out much of its capital, forcing Knight to seek new funding as its shares plunged as much as 80 percent in two days.

Many of the company's biggest customers, including TD Ameritrade, the No. 1 U.S. retail brokerage by trading volume, and fund giants Vanguard and Fidelity Investments, stopped routing orders through Knight. One of the biggest fears is that the company will collapse, landing trading partners with losses.

"They have about 48 hours to shore up confidence," said James Koutoulas, head of an advocacy group for former customers of failed brokerages MF Global and Peregrine Financial.

Knight said it is "actively pursuing its strategic and financing alternatives," raising the likelihood the firm will be sold or face bankruptcy because of the loss and subsequent damage to business.

As one of the leading market makers in U.S. stocks, Knight is among the firms that are critical to smooth, orderly trading. Market makers match orders from buyers and sellers and often provide liquidity by stepping into the market themselves.

The speed at which Knight has unraveled has been particularly unnerving for investors and markets. It resulted from problems with the firm's trading software that sent bogus, rapid-fire trades into the market for 45 minutes on Wednesday and left Knight with big losses on numerous stocks it bought at inflated prices.

"This is like a nuclear reactor or aircraft," said Roy Niederhoffer, whose R.G. Niederhoffer Capital Management uses Knight. "There has to be some way of seeing the state of the whole system." He said that there was "no excuse" for Knight failing to act sooner...."

https://finance.yahoo.com/news/knight-seeks-financing-440-million-124602514.html

But if they let AI do the trading automatically, as it is being done now all over the place not just with these people, and then call it a glitch or a problem, then why do it in the first place!?

So face it people, AI is in control. It is the matrix...

+1 (Neo)

This goes back to Vonnegut, the Sixties and machines replacing people.

But stopping to think about it again - A lot of critical stuff is left up to machines but machines allow for no exceptions or alternatives and they can fail and go haywire.

They're also vulnerable to remote tampering.

I'm sure there would be plenty of jobs out there if business's wanted to start budgeting for them again.

Humans (bio robots) can (and do) also fail and go haywire.

..and, of course, are also vulnerable to remote tampering....

..and no, businesses prefer to replace the bio-robots with other robots since they are much cheaper...

AI or GIGO. You're gonna have to come up with hard evidence that it's AI if you want to eliminate the million to one likelihood it's GIGO.

More or less but you're making it look clever and as if something everyone should be proud of.

No, I am just calling a spade a spade!

What hard evidence?

Exactly.

This is called programmer error.

Exactly what!?

Not exactly. The program could have indded been programed to do what it did based on what it saw in the market...so I would not call it programmer error since the machines are making most of the trading decisions these days anyway...

So if I wrote a program to do all that and it went haywire I could just say it was the programs fault and not mine? sweet that means I can have a multi-million dollar job and if anything f***s up I can just blame it on the program and not my non-existant skill set.

It is just some comp error thing. But I don't think computers r ever going to replace people because they can't really think.

Well, and based on your posts here I can easily say that even an average computer can think better than you...

+1 (Neo)