> those firms whose models don't reflect reality will blow up,
I'm picturing one of those dystopic films/novels where the main character is deleted/fired/jailed as a result of an algorithm error. Yes, in real life the trends will overcome the bad models. But just think of the potential consequences for harm on an individual basis!
Re:Machine Learning for Developers
by nostrademons on Thursday October 08, 2015 @09:48PM
(#10357649)
That's sorta the way society has functioned for millenia. In the 20th century alone, hundreds of millions of people have died miserable deaths because some guy in power had an incorrect model of reality.
It sucks, it's not fair or just, and everything would run more smoothly if we were omniscient beings living in a completely egalitarian society. Unfortunately, that's not the reality we live in. In the meantime, we accept it as simply fate or vulnerability, and muddle through as best as we can.
Isn't that just the plot of Minority Report?
Think of the possibilities of machine learning for detecting precrime!
It's already here. See http://www.predpol.com/
Realistically, the outcome will be the same as it is now: those firms whose models don't reflect reality will blow up, those whose do will get bigger, a few will get too big to fail off some very confidently-expressed models and make a lot of people mad at them, and eventually the market will straighten out who's lying and who's not. Won't be painless, but then, capitalism never is.