#financialcrash — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #financialcrash, aggregated by home.social.
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Rachel Reeves is doubling down on a broken economic model
On Tuesday, Chancellor Rachel Reeves became the first person to deliver a second Mais Lecture, the prestigious annual…
#Economy #brexit #Britisheconomy #financialcrash #growth #labourparty #RachelReeves #Uncategorized
https://www.europesays.com/2854209/ -
Künstliche Intelligenz
„Investoren werden sehr viel Geld verlieren“„Diese Modelle sind gut darin, auf Basis riesiger Datenmengen Wahrscheinlichkeiten auszurechnen. Sie verstehen aber nicht, worüber sie sprechen“
Der Neurowissenschaftler und KI-Unternehmer Gary Marcus warnt seit Jahren, dass der Boom der künstlichen Intelligenz auf einem Missverständnis beruht. Jetzt häufen sich auffällig die Stimmen, die auf seine Linie einschwenken.
http://www.sueddeutsche.de/kultur/kuenstliche-intelligenz-risiken-blase-finanzkrise-li.3372115
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Künstliche Intelligenz
„Investoren werden sehr viel Geld verlieren“„Diese Modelle sind gut darin, auf Basis riesiger Datenmengen Wahrscheinlichkeiten auszurechnen. Sie verstehen aber nicht, worüber sie sprechen“
Der Neurowissenschaftler und KI-Unternehmer Gary Marcus warnt seit Jahren, dass der Boom der künstlichen Intelligenz auf einem Missverständnis beruht. Jetzt häufen sich auffällig die Stimmen, die auf seine Linie einschwenken.
http://www.sueddeutsche.de/kultur/kuenstliche-intelligenz-risiken-blase-finanzkrise-li.3372115
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Künstliche Intelligenz
„Investoren werden sehr viel Geld verlieren“„Diese Modelle sind gut darin, auf Basis riesiger Datenmengen Wahrscheinlichkeiten auszurechnen. Sie verstehen aber nicht, worüber sie sprechen“
Der Neurowissenschaftler und KI-Unternehmer Gary Marcus warnt seit Jahren, dass der Boom der künstlichen Intelligenz auf einem Missverständnis beruht. Jetzt häufen sich auffällig die Stimmen, die auf seine Linie einschwenken.
http://www.sueddeutsche.de/kultur/kuenstliche-intelligenz-risiken-blase-finanzkrise-li.3372115
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Künstliche Intelligenz
„Investoren werden sehr viel Geld verlieren“„Diese Modelle sind gut darin, auf Basis riesiger Datenmengen Wahrscheinlichkeiten auszurechnen. Sie verstehen aber nicht, worüber sie sprechen“
Der Neurowissenschaftler und KI-Unternehmer Gary Marcus warnt seit Jahren, dass der Boom der künstlichen Intelligenz auf einem Missverständnis beruht. Jetzt häufen sich auffällig die Stimmen, die auf seine Linie einschwenken.
http://www.sueddeutsche.de/kultur/kuenstliche-intelligenz-risiken-blase-finanzkrise-li.3372115
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Künstliche Intelligenz
„Investoren werden sehr viel Geld verlieren“„Diese Modelle sind gut darin, auf Basis riesiger Datenmengen Wahrscheinlichkeiten auszurechnen. Sie verstehen aber nicht, worüber sie sprechen“
Der Neurowissenschaftler und KI-Unternehmer Gary Marcus warnt seit Jahren, dass der Boom der künstlichen Intelligenz auf einem Missverständnis beruht. Jetzt häufen sich auffällig die Stimmen, die auf seine Linie einschwenken.
http://www.sueddeutsche.de/kultur/kuenstliche-intelligenz-risiken-blase-finanzkrise-li.3372115
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https://archive.ph/fnzB4
“You Have No Idea How Screwed OpenAI Actually Is“ by Will Lockett: #AI #openAI #Bubble #financialCrash https://wlockett.medium.com/you-have-no-idea-how-screwed-openai-actually-is-8358dccfca1c -
https://archive.ph/fnzB4
“You Have No Idea How Screwed OpenAI Actually Is“ by Will Lockett: #AI #openAI #Bubble #financialCrash https://wlockett.medium.com/you-have-no-idea-how-screwed-openai-actually-is-8358dccfca1c -
https://archive.ph/fnzB4
“You Have No Idea How Screwed OpenAI Actually Is“ by Will Lockett: #AI #openAI #Bubble #financialCrash https://wlockett.medium.com/you-have-no-idea-how-screwed-openai-actually-is-8358dccfca1c -
https://archive.ph/fnzB4
“You Have No Idea How Screwed OpenAI Actually Is“ by Will Lockett: #AI #openAI #Bubble #financialCrash https://wlockett.medium.com/you-have-no-idea-how-screwed-openai-actually-is-8358dccfca1c -
https://archive.ph/fnzB4
“You Have No Idea How Screwed OpenAI Actually Is“ by Will Lockett: #AI #openAI #Bubble #financialCrash https://wlockett.medium.com/you-have-no-idea-how-screwed-openai-actually-is-8358dccfca1c -
The real danger of the AI bubble
It is astonishing to see how many economists are predicting Armageddon just because they don’t like Donald Trump.…
#NewsBeep #News #Artificialintelligence #2008financialcrisis #AI #AIbubble #AndrewBailey #ArtificialIntelligence #financialcrash #Technology #UK #Uncategorized #UnitedKingdom
https://www.newsbeep.com/uk/225490/ -
https://www.europesays.com/uk/527888/ The real danger of the AI bubble #2008FinancialCrisis #AI #AIBubble #AndrewBailey #ArtificialIntelligence #FinancialCrash #Technology #UK #Uncategorized #UnitedKingdom
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#OTD 1987 after latest #FinancialCrash news reports of suicidal #StockBrokers, I headed up to the Carnelian Room for cocktails atop the #BankOfAmerica HQ, just a block or two from trading floor of #SF #Pacific #StockExchange , was kinda hoping to see some stressed out #BlackMonday #Investors lose it & jump, but people just sat around drinking & muttering...oh well
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#OTD 1987 after latest #FinancialCrash news reports of suicidal #StockBrokers, I headed up to the Carnelian Room for cocktails atop the #BankOfAmerica HQ, just a block or two from trading floor of #SF #Pacific #StockExchange , was kinda hoping to see some stressed out #BlackMonday #Investors lose it & jump, but people just sat around drinking & muttering...oh well
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#Dow currently $39,497USD my forecast $5,000 USD or less that's not a typo. #financialcrash #financialcrisis #StockMarketCrash #bankingcrisis #financialweaponsofmassdestruction
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#Dow currently $39,497USD my forecast $5,000 USD or less that's not a typo. #financialcrash #financialcrisis #StockMarketCrash #bankingcrisis #financialweaponsofmassdestruction
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#KeirStarmer aims to turn the spotlight onto #Sunak’s career before politics in the lead up to the first #TVdebate about the #GeneralElection
#RishiSunak must face questions about the fortune he earned at a #HedgeFund which engineered a deal at the heart of the [2008] #FinancialCrash, #Labour has said, as it prepares to launch its first major attack on the prime minister ahead of the election debates.
https://www.theguardian.com/politics/article/2024/jun/02/pm-must-face-questions-about-hedge-fund-at-heart-of-financial-crash-says-labour
#GE2024 #ToryBehaviour #PrivateProfitPublicCost -
#KeirStarmer aims to turn the spotlight onto #Sunak’s career before politics in the lead up to the first #TVdebate about the #GeneralElection
#RishiSunak must face questions about the fortune he earned at a #HedgeFund which engineered a deal at the heart of the [2008] #FinancialCrash, #Labour has said, as it prepares to launch its first major attack on the prime minister ahead of the election debates.
https://www.theguardian.com/politics/article/2024/jun/02/pm-must-face-questions-about-hedge-fund-at-heart-of-financial-crash-says-labour
#GE2024 #ToryBehaviour #PrivateProfitPublicCost -
#KeirStarmer aims to turn the spotlight onto #Sunak’s career before politics in the lead up to the first #TVdebate about the #GeneralElection
#RishiSunak must face questions about the fortune he earned at a #HedgeFund which engineered a deal at the heart of the [2008] #FinancialCrash, #Labour has said, as it prepares to launch its first major attack on the prime minister ahead of the election debates.
https://www.theguardian.com/politics/article/2024/jun/02/pm-must-face-questions-about-hedge-fund-at-heart-of-financial-crash-says-labour
#GE2024 #ToryBehaviour #PrivateProfitPublicCost -
#KeirStarmer aims to turn the spotlight onto #Sunak’s career before politics in the lead up to the first #TVdebate about the #GeneralElection
#RishiSunak must face questions about the fortune he earned at a #HedgeFund which engineered a deal at the heart of the [2008] #FinancialCrash, #Labour has said, as it prepares to launch its first major attack on the prime minister ahead of the election debates.
https://www.theguardian.com/politics/article/2024/jun/02/pm-must-face-questions-about-hedge-fund-at-heart-of-financial-crash-says-labour
#GE2024 #ToryBehaviour #PrivateProfitPublicCost -
#KeirStarmer aims to turn the spotlight onto #Sunak’s career before politics in the lead up to the first #TVdebate about the #GeneralElection
#RishiSunak must face questions about the fortune he earned at a #HedgeFund which engineered a deal at the heart of the [2008] #FinancialCrash, #Labour has said, as it prepares to launch its first major attack on the prime minister ahead of the election debates.
https://www.theguardian.com/politics/article/2024/jun/02/pm-must-face-questions-about-hedge-fund-at-heart-of-financial-crash-says-labour
#GE2024 #ToryBehaviour #PrivateProfitPublicCost -
From 1998: "Anxiety about stock prices is thus to a great extent concern over whether the economy can continue to grow at a steady pace without a rise in inflation. But neither the path of the economy nor changes in stock prices can be predicted with much confidence."
#macroeconomics #finance #corruption #markets #stocks #investment #FinancialCrash
https://www.nybooks.com/articles/1998/06/25/how-to-think-about-the-stock-market/ -
From 1998: "Anxiety about stock prices is thus to a great extent concern over whether the economy can continue to grow at a steady pace without a rise in inflation. But neither the path of the economy nor changes in stock prices can be predicted with much confidence."
#macroeconomics #finance #corruption #markets #stocks #investment #FinancialCrash
https://www.nybooks.com/articles/1998/06/25/how-to-think-about-the-stock-market/ -
From 1998: "Anxiety about stock prices is thus to a great extent concern over whether the economy can continue to grow at a steady pace without a rise in inflation. But neither the path of the economy nor changes in stock prices can be predicted with much confidence."
#macroeconomics #finance #corruption #markets #stocks #investment #FinancialCrash
https://www.nybooks.com/articles/1998/06/25/how-to-think-about-the-stock-market/ -
From 1998: "Anxiety about stock prices is thus to a great extent concern over whether the economy can continue to grow at a steady pace without a rise in inflation. But neither the path of the economy nor changes in stock prices can be predicted with much confidence."
#macroeconomics #finance #corruption #markets #stocks #investment #FinancialCrash
https://www.nybooks.com/articles/1998/06/25/how-to-think-about-the-stock-market/ -
From 1998: "Anxiety about stock prices is thus to a great extent concern over whether the economy can continue to grow at a steady pace without a rise in inflation. But neither the path of the economy nor changes in stock prices can be predicted with much confidence."
#macroeconomics #finance #corruption #markets #stocks #investment #FinancialCrash
https://www.nybooks.com/articles/1998/06/25/how-to-think-about-the-stock-market/ -
2024: #People #Starve As The #RichGetRicher
During the last ten years, (which saw the 2008 #financialcrash, #Covid19 and the #Ukraine/#Russia conflict) the collective wealth of this tiny shiny gang has increased by 120%
#Women #Transgender #LGBTQ #LGBTQIA #SocialJustice #Wealth #IncomeInequality #LetThemEatCake
https://www.counterpunch.org/2024/05/24/2024-people-starve-as-the-rich-get-richer/
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2024: #People #Starve As The #RichGetRicher
During the last ten years, (which saw the 2008 #financialcrash, #Covid19 and the #Ukraine/#Russia conflict) the collective wealth of this tiny shiny gang has increased by 120%
#Women #Transgender #LGBTQ #LGBTQIA #SocialJustice #Wealth #IncomeInequality #LetThemEatCake
https://www.counterpunch.org/2024/05/24/2024-people-starve-as-the-rich-get-richer/
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2024: #People #Starve As The #RichGetRicher
During the last ten years, (which saw the 2008 #financialcrash, #Covid19 and the #Ukraine/#Russia conflict) the collective wealth of this tiny shiny gang has increased by 120%
#Women #Transgender #LGBTQ #LGBTQIA #SocialJustice #Wealth #IncomeInequality #LetThemEatCake
https://www.counterpunch.org/2024/05/24/2024-people-starve-as-the-rich-get-richer/
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2024: #People #Starve As The #RichGetRicher
During the last ten years, (which saw the 2008 #financialcrash, #Covid19 and the #Ukraine/#Russia conflict) the collective wealth of this tiny shiny gang has increased by 120%
#Women #Transgender #LGBTQ #LGBTQIA #SocialJustice #Wealth #IncomeInequality #LetThemEatCake
https://www.counterpunch.org/2024/05/24/2024-people-starve-as-the-rich-get-richer/
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2024: #People #Starve As The #RichGetRicher
During the last ten years, (which saw the 2008 #financialcrash, #Covid19 and the #Ukraine/#Russia conflict) the collective wealth of this tiny shiny gang has increased by 120%
#Women #Transgender #LGBTQ #LGBTQIA #SocialJustice #Wealth #IncomeInequality #LetThemEatCake
https://www.counterpunch.org/2024/05/24/2024-people-starve-as-the-rich-get-richer/
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In finance, an inverted yield curve is when interest rates on short-term debt instruments rise above the interest rates of longer-term debt instruments of similar creditworthiness. In other words, this is an unusual situation in which, all else being equal, shorter-term investments return more money than longer-term investments.
Historically, inverted yield curves on US treasuries have been reliable indicators of impending recessions or economic downturns, and more prolonged inversions generally correlate with more severe crashes, as this video by the Game of Trades investment channel demonstrates: https://www.youtube.com/watch?v=ELF_EivMCMI
(The last 30 seconds of this video are just ads for the channel's trading advice services.)
Our current situation in 2024 is that the yield curve has been inverted for 540 days, which is comparable to the durations of the inversions preceding the 1974 crash and the 2008 global financial meltdown (low 500s each) and second only to the 1929 market crash that kicked off the Great Depression (700).
The stock market is currently still going up, but keep in mind that the stock market went up for a long time after the 2008-era inversion as well: a record 657 days. If the market were to keep rallying for that length of time today, then the crash would begin this August.
2008 showed us that the average person will be angry and more ready to question capitalism itself when events like this happen. As Marxists, we must prepare to do widespread agitation, education, and organizing in its wake, spreading real knowledge about how to understand, resist, and fight back against capital.
#yieldcurve #ustreasury #federalreserve #invertedyieldcurve #recession #crash #financialcrash #financialmarket #economy #economics #news #politics #gfc #globalfinancialcrisis #2008 #greatdepression #depression #yieldinversion #capitalism #socialism #communism #socialist #communist #marxism #marxist #revolution #rev2030 #revolution2030 #tatertube #s4a #socialismforall
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In finance, an inverted yield curve is when interest rates on short-term debt instruments rise above the interest rates of longer-term debt instruments of similar creditworthiness. In other words, this is an unusual situation in which, all else being equal, shorter-term investments return more money than longer-term investments.
Historically, inverted yield curves on US treasuries have been reliable indicators of impending recessions or economic downturns, and more prolonged inversions generally correlate with more severe crashes, as this video by the Game of Trades investment channel demonstrates: https://www.youtube.com/watch?v=ELF_EivMCMI
(The last 30 seconds of this video are just ads for the channel's trading advice services.)
Our current situation in 2024 is that the yield curve has been inverted for 540 days, which is comparable to the durations of the inversions preceding the 1974 crash and the 2008 global financial meltdown (low 500s each) and second only to the 1929 market crash that kicked off the Great Depression (700).
The stock market is currently still going up, but keep in mind that the stock market went up for a long time after the 2008-era inversion as well: a record 657 days. If the market were to keep rallying for that length of time today, then the crash would begin this August.
2008 showed us that the average person will be angry and more ready to question capitalism itself when events like this happen. As Marxists, we must prepare to do widespread agitation, education, and organizing in its wake, spreading real knowledge about how to understand, resist, and fight back against capital.
#yieldcurve #ustreasury #federalreserve #invertedyieldcurve #recession #crash #financialcrash #financialmarket #economy #economics #news #politics #gfc #globalfinancialcrisis #2008 #greatdepression #depression #yieldinversion #capitalism #socialism #communism #socialist #communist #marxism #marxist #revolution #rev2030 #revolution2030 #tatertube #s4a #socialismforall
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In finance, an inverted yield curve is when interest rates on short-term debt instruments rise above the interest rates of longer-term debt instruments of similar creditworthiness. In other words, this is an unusual situation in which, all else being equal, shorter-term investments return more money than longer-term investments.
Historically, inverted yield curves on US treasuries have been reliable indicators of impending recessions or economic downturns, and more prolonged inversions generally correlate with more severe crashes, as this video by the Game of Trades investment channel demonstrates: https://www.youtube.com/watch?v=ELF_EivMCMI
(The last 30 seconds of this video are just ads for the channel's trading advice services.)
Our current situation in 2024 is that the yield curve has been inverted for 540 days, which is comparable to the durations of the inversions preceding the 1974 crash and the 2008 global financial meltdown (low 500s each) and second only to the 1929 market crash that kicked off the Great Depression (700).
The stock market is currently still going up, but keep in mind that the stock market went up for a long time after the 2008-era inversion as well: a record 657 days. If the market were to keep rallying for that length of time today, then the crash would begin this August.
2008 showed us that the average person will be angry and more ready to question capitalism itself when events like this happen. As Marxists, we must prepare to do widespread agitation, education, and organizing in its wake, spreading real knowledge about how to understand, resist, and fight back against capital.
#yieldcurve #ustreasury #federalreserve #invertedyieldcurve #recession #crash #financialcrash #financialmarket #economy #economics #news #politics #gfc #globalfinancialcrisis #2008 #greatdepression #depression #yieldinversion #capitalism #socialism #communism #socialist #communist #marxism #marxist #revolution #rev2030 #revolution2030 #tatertube #s4a #socialismforall
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In finance, an inverted yield curve is when interest rates on short-term debt instruments rise above the interest rates of longer-term debt instruments of similar creditworthiness. In other words, this is an unusual situation in which, all else being equal, shorter-term investments return more money than longer-term investments.
Historically, inverted yield curves on US treasuries have been reliable indicators of impending recessions or economic downturns, and more prolonged inversions generally correlate with more severe crashes, as this video by the Game of Trades investment channel demonstrates: https://www.youtube.com/watch?v=ELF_EivMCMI
(The last 30 seconds of this video are just ads for the channel's trading advice services.)
Our current situation in 2024 is that the yield curve has been inverted for 540 days, which is comparable to the durations of the inversions preceding the 1974 crash and the 2008 global financial meltdown (low 500s each) and second only to the 1929 market crash that kicked off the Great Depression (700).
The stock market is currently still going up, but keep in mind that the stock market went up for a long time after the 2008-era inversion as well: a record 657 days. If the market were to keep rallying for that length of time today, then the crash would begin this August.
2008 showed us that the average person will be angry and more ready to question capitalism itself when events like this happen. As Marxists, we must prepare to do widespread agitation, education, and organizing in its wake, spreading real knowledge about how to understand, resist, and fight back against capital.
#yieldcurve #ustreasury #federalreserve #invertedyieldcurve #recession #crash #financialcrash #financialmarket #economy #economics #news #politics #gfc #globalfinancialcrisis #2008 #greatdepression #depression #yieldinversion #capitalism #socialism #communism #socialist #communist #marxism #marxist #revolution #rev2030 #revolution2030 #tatertube #s4a #socialismforall
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In finance, an inverted yield curve is when interest rates on short-term debt instruments rise above the interest rates of longer-term debt instruments of similar creditworthiness. In other words, this is an unusual situation in which, all else being equal, shorter-term investments return more money than longer-term investments.
Historically, inverted yield curves on US treasuries have been reliable indicators of impending recessions or economic downturns, and more prolonged inversions generally correlate with more severe crashes, as this video by the Game of Trades investment channel demonstrates: https://www.youtube.com/watch?v=ELF_EivMCMI
(The last 30 seconds of this video are just ads for the channel's trading advice services.)
Our current situation in 2024 is that the yield curve has been inverted for 540 days, which is comparable to the durations of the inversions preceding the 1974 crash and the 2008 global financial meltdown (low 500s each) and second only to the 1929 market crash that kicked off the Great Depression (700).
The stock market is currently still going up, but keep in mind that the stock market went up for a long time after the 2008-era inversion as well: a record 657 days. If the market were to keep rallying for that length of time today, then the crash would begin this August.
2008 showed us that the average person will be angry and more ready to question capitalism itself when events like this happen. As Marxists, we must prepare to do widespread agitation, education, and organizing in its wake, spreading real knowledge about how to understand, resist, and fight back against capital.
#yieldcurve #ustreasury #federalreserve #invertedyieldcurve #recession #crash #financialcrash #financialmarket #economy #economics #news #politics #gfc #globalfinancialcrisis #2008 #greatdepression #depression #yieldinversion #capitalism #socialism #communism #socialist #communist #marxism #marxist #revolution #rev2030 #revolution2030 #tatertube #s4a #socialismforall
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Again, if you say, “Ya know, the pandemic hit small businesses hard while the cronies got to stay open and were deemed ‘essential’ businesses,” you’ll still get the pro-state AND the pro-Corpo America crowd assuring you tHaT’s JuSt a ConSpiRaCy ThEoRy! These folks would probably pull the rope to guillotine themselves and say, “Don’t worry, the blade isn’t real.” 😣
https://medium.com/@sara_causey/only-megabanks-in-a-future-near-you-0675530aabb2
#banks #bankingsystem #economy #recession #financialcrash #megabanks
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#SEC boss warns it's 'nearly unavoidable' that #AI will cause #financialcrash in the FT
#GaryGensler urges regulators to tame AI risks to #financial stability
SEC head warns reliance on a few data models could unleash a #financialcrisis within a decade https://www.ft.com/content/8227636f-e819-443a-aeba-c8237f0ec1ac -
#SEC boss warns it's 'nearly unavoidable' that #AI will cause #financialcrash in the FT
#GaryGensler urges regulators to tame AI risks to #financial stability
SEC head warns reliance on a few data models could unleash a #financialcrisis within a decade https://www.ft.com/content/8227636f-e819-443a-aeba-c8237f0ec1ac -
#SEC boss warns it's 'nearly unavoidable' that #AI will cause #financialcrash in the FT
#GaryGensler urges regulators to tame AI risks to #financial stability
SEC head warns reliance on a few data models could unleash a #financialcrisis within a decade https://www.ft.com/content/8227636f-e819-443a-aeba-c8237f0ec1ac -
#SEC boss warns it's 'nearly unavoidable' that #AI will cause #financialcrash in the FT
#GaryGensler urges regulators to tame AI risks to #financial stability
SEC head warns reliance on a few data models could unleash a #financialcrisis within a decade https://www.ft.com/content/8227636f-e819-443a-aeba-c8237f0ec1ac -
#SEC boss warns it's 'nearly unavoidable' that #AI will cause #financialcrash in the FT
#GaryGensler urges regulators to tame AI risks to #financial stability
SEC head warns reliance on a few data models could unleash a #financialcrisis within a decade https://www.ft.com/content/8227636f-e819-443a-aeba-c8237f0ec1ac -
The head of the SEC said that without proper regulation, the artificial intelligence market could lead to an economic crisis as soon as the late 2020s.
https://www.vice.com/en/article/bvj5ww/sec-head-financial-crash-caused-by-ai-nearly-unavoidable?at_medium=Social%20media&at_campaign=Mastodon
#AI #OpenAI #ChatGPT #SEC #ArtificialIntelligence #financialcrash #monopoly -
The head of the SEC said that without proper regulation, the artificial intelligence market could lead to an economic crisis as soon as the late 2020s.
https://www.vice.com/en/article/bvj5ww/sec-head-financial-crash-caused-by-ai-nearly-unavoidable?at_medium=Social%20media&at_campaign=Mastodon
#AI #OpenAI #ChatGPT #SEC #ArtificialIntelligence #financialcrash #monopoly -
The head of the SEC said that without proper regulation, the artificial intelligence market could lead to an economic crisis as soon as the late 2020s.
https://www.vice.com/en/article/bvj5ww/sec-head-financial-crash-caused-by-ai-nearly-unavoidable?at_medium=Social%20media&at_campaign=Mastodon
#AI #OpenAI #ChatGPT #SEC #ArtificialIntelligence #financialcrash #monopoly -
The head of the SEC said that without proper regulation, the artificial intelligence market could lead to an economic crisis as soon as the late 2020s.
https://www.vice.com/en/article/bvj5ww/sec-head-financial-crash-caused-by-ai-nearly-unavoidable?at_medium=Social%20media&at_campaign=Mastodon
#AI #OpenAI #ChatGPT #SEC #ArtificialIntelligence #financialcrash #monopoly -
The head of the SEC said that without proper regulation, the artificial intelligence market could lead to an economic crisis as soon as the late 2020s.
https://www.vice.com/en/article/bvj5ww/sec-head-financial-crash-caused-by-ai-nearly-unavoidable?at_medium=Social%20media&at_campaign=Mastodon
#AI #OpenAI #ChatGPT #SEC #ArtificialIntelligence #financialcrash #monopoly -
SEC Chairman Gensler expects the US will end up with two or three foundational #AI models, making a #FinancialCrash more likely because when one model or data set becomes central, it increases “herding” behavior, meaning that everyone will rely on the same information and respond similarly.
“This technology will be the center of future crises, future financial crises,” Gensler said. “It has to do with this powerful set of economics around scale and networks.”
https://www.axios.com/2023/08/12/artificial-intelligent-stock-market-algorithms
