Artificial Stupidity: The New AI and the Future of Fintech

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Күн бұрын

Andrew W. Lo (Massachusetts Institute of Technology)
Theoretically Speaking Series, Fall 2019
simons.berkeley.edu/events/an...

Пікірлер: 41

@nikolaygeorgiev1680 2 жыл бұрын

Honoured to be a student of Prof Lo. A rock star professor.

@vidhutripathi5368 3 жыл бұрын

Thank you sir for this beautiful lecture :)

@Pedritox0953 2 жыл бұрын

Wonderful lecture!

@Prashant-sx8rw 2 жыл бұрын

you blew my mind sir

@teddyregrets8384 2 жыл бұрын

he sounds like larry david sometimes when he talks

@DSAK55 9 ай бұрын

should have talked about Natural Stupidity, there's a surplus of that

@Ryan-xq3kl 2 жыл бұрын

This is a very excellent underrated talk, more investors need to listen

@nickvoutsas5144 3 жыл бұрын

Everything has it’s an equilibrium

@clifftanch 3 ай бұрын

This brings up far deeper issues for economic theory: if individual decisionmaking is guided by an adaptive AI, even one designed to prevent harmful mistakes - can you still prove the First Welfare Theorem - Does a competitive equilibrium still exist? And if yes, is it optimal by some metric?

@mlevif 2 жыл бұрын

Great talk. I'm sorry for those two pretencious people in the audience trying to prove themselves smart...

@kegomania 8 ай бұрын

The man's haircut is still on point 🤌

@withthewang6202 2 жыл бұрын

Reminder for me in the future 1:04:00

@pulkitgaur Жыл бұрын

After doing his MIT 15.401 course, he looks..... thin.

@jiagengliu 3 жыл бұрын

I honestly didn't get the joke at 1:05:00, and someone help me pls.

@malamute4793 3 жыл бұрын

the lawyer's dilemma is not whether to return the money to the old lady (the right thing to do) but whether to share it with his partners

@jiagengliu 3 жыл бұрын

@@malamute4793 Ah I see. Thanks.

@Signonthisline 2 жыл бұрын

Many of the same anecdotes he used in the mit course session 18 or 19.

@georgesamaras2922 2 жыл бұрын

Rules of Thumb optimize approximate decision making in a resource constrained enviroment, whether its food or now time(attention) . The freaking out did not pay off because central banks want to avoid the business cycle with unlimited QE. If everybody has the algorithm(risk management) nobody has it, volatility goes down, no quant firm makes alpha, the algorithm would be sold to the highest bidder. The talk finishes with gordon geko speech xD. Robotics Law 1) would halt during covi19: robot may think it needs to jab people but some people might resist because freedom and then if robot proceeded anyway it would injure the human. Robot would be controlled by its puppet master and may have the biases of its puppet master. Humans haven't learned to reach consesus themselves and now they want to 'program robots' ampifying the consequences of their actions. I don't see how this could end well. Ofc you can't be a doomer you must work tirelessly to attempt to solve problems like this.

@nikolaykolev5125 3 жыл бұрын

I am Natural

@kirillkhvenkin6001 4 жыл бұрын

What did he say in an hour and a half?

@yushpi 4 жыл бұрын

Said oh hi kirill

@golagaz 4 жыл бұрын

He tried to give a set of the usage of "AI technologies", essentially quantitative techniques in Finance and economics.

@clifftanch 3 ай бұрын

So he ends at ethics but never mentions religious faith of any kind. That could be because of his own settled worldview, which is fine, but I think many deductionist views of the world run into this roadblock and recognize their worldly philosophy (to use Heilbroner’s phrase) while internally consistent within its framework, is incomplete. You may find that long long ago philosophers and theologians had already grappled with this, even if they don’t know how to code.

@haszmarcus9603 3 жыл бұрын

bad audience

@georgesamaras2922 2 жыл бұрын

They might be 25yo phd students

@ThePhukst1k 2 жыл бұрын

I agree. He’s using examples for a thought exercise and rather than consider the philosophical undertone they pick it apart. Most young academically achieved people have this linear thought capacity I come across.

@PrashantParikh 2 жыл бұрын

Typical liberal snowflake audience

@lydiasp3534 4 жыл бұрын

It's all about money making in the name of STUPID.

@marylou8449 Жыл бұрын

Well he talked-about alot of nothing 🤷

@calumreed2861 Жыл бұрын

He just gave a grasp over plenty of concepts that in finance and economics can become quite technical very quickly, so you should be grateful that he built the presentation in a way that even people of your cognitive level can be able to understand and ask questions. If you want to play smart, go deeper into more technical topics of financial modelling and try to beat his net-worth + academic career. Not to mention, his incredible contribution to connect modern finance theory with behavioral economics. Moreover, I have already seen Startups of hedge funds with a neuroscience approach dragging an enormous interest from regulators and investors in the private equity sector, so it is no joke what he is talking about. Do you even understand the basics of portfolio theory or private equity investment? 🤷‍♂

@lbride3738 Ай бұрын

@@calumreed2861 Unforgiven is the name of an movie. We humans forgive. @marylou8449 is probably having a knee-jerk reaction to the vast quantity of unknowns, in plain English!

@utkashdubey8458 2 жыл бұрын

I watched the entire thing, that might have been the worst talk I've ever listened to

@calumreed2861 Жыл бұрын

You seem to pretend being a very intelligent person... can you at least explain some of your points/thoughts?

@lbride3738 Ай бұрын

@@calumreed2861 You have to understand the talk is in plain English and yet Unintelligible. It makes you think how many books you have to read, including Asimov's foundation series, a series of science fiction novels, to follow the talk through and through, while the devices you're using are becoming smarter than I'm, and one days those devices would become your Hedge Fund managers. If that's not the worst talk, what else? Be sympathetic, not denigrating to @utkashdubey8485.