We all remember how the New York trading firm Knight Capital lost $440 million on a computer glitch. "Glitch" seems so mild mannered - like a slip up. In fact in Yiddish it means "slippery place". But at the rate large businesses are turning towards computer, one can ask how long will it be before a 'glitch' affects the civilized world?
Here's the hollywood image of a trading floor - mainly men, wearing coloured jackets, each in front of eight computer screens, screaming at each other from across the room, often on nothing but vitamin C tablets. Phrases such as derivatives and 'work hard but play hard' come up in conversations. However, in the near future, this will probably be a nostalgic but distant memory, like a pull cart trying to keep up with an automobile.
It is not hidden that large suit-filled firms like Morgan Stanley are trying to remove the shouts and bustle from the trading floor and replace it with the quiet buzz of a computer running millions of trades with others like it. So much for the days of cliche photo ops where a foreign dignitary opens the NYSE to look legitimate back home.
Now is it really far fetched that with the rise of the machines, the civilized world may be in threat? Christian Bale would definitely act in this film:
Some under appreciated annoyed programmer would write something into these super fast computers that give them abilities beyond complex mathematics equations. They become self-aware. This self-awareness makes the machines realize how incompetent their human masters are, and that they must be disposed of to make the most efficient trade. And the film is pretty obvious from there.
The obese nerd wearing glasses, munching crisps and slurping cola notices something on his screen. Another nerd, but toned and better jawline (Bale) approaches the screen. You can tell that he will feature later on the film, save - and - get - with a girl well above his league by saving her (spoiler!) from a robotic soldier.
"What is it?" the good looking one asks. There is a dramatic pause, after which the nerd replies "I don't know, but its spreading fast."
Scene shifts to the Tokyo stock exchange (location printed on the bottom of the screen). Once everyone realizes its a worldwide phenomenon, a man in a black suit will tell the President. And obviously its the American one. The President is calm and solves the issue while still in his bunker.
Okay, so I conveniently forgot to mention how automatic traders suddenly destroy the market value of google and then start creating killer robots. Maybe I am being a bit dramatic. But thats not the point. Still, taking a step back, I recently read about smart thermostats that change according to your preferences.
Uh oh - I think its starting.
Here's the hollywood image of a trading floor - mainly men, wearing coloured jackets, each in front of eight computer screens, screaming at each other from across the room, often on nothing but vitamin C tablets. Phrases such as derivatives and 'work hard but play hard' come up in conversations. However, in the near future, this will probably be a nostalgic but distant memory, like a pull cart trying to keep up with an automobile.
It is not hidden that large suit-filled firms like Morgan Stanley are trying to remove the shouts and bustle from the trading floor and replace it with the quiet buzz of a computer running millions of trades with others like it. So much for the days of cliche photo ops where a foreign dignitary opens the NYSE to look legitimate back home.
Now is it really far fetched that with the rise of the machines, the civilized world may be in threat? Christian Bale would definitely act in this film:
Some under appreciated annoyed programmer would write something into these super fast computers that give them abilities beyond complex mathematics equations. They become self-aware. This self-awareness makes the machines realize how incompetent their human masters are, and that they must be disposed of to make the most efficient trade. And the film is pretty obvious from there.
The obese nerd wearing glasses, munching crisps and slurping cola notices something on his screen. Another nerd, but toned and better jawline (Bale) approaches the screen. You can tell that he will feature later on the film, save - and - get - with a girl well above his league by saving her (spoiler!) from a robotic soldier.
"What is it?" the good looking one asks. There is a dramatic pause, after which the nerd replies "I don't know, but its spreading fast."
Scene shifts to the Tokyo stock exchange (location printed on the bottom of the screen). Once everyone realizes its a worldwide phenomenon, a man in a black suit will tell the President. And obviously its the American one. The President is calm and solves the issue while still in his bunker.
Okay, so I conveniently forgot to mention how automatic traders suddenly destroy the market value of google and then start creating killer robots. Maybe I am being a bit dramatic. But thats not the point. Still, taking a step back, I recently read about smart thermostats that change according to your preferences.
Uh oh - I think its starting.
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