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Oscar_Cunningham comments on Holden Karnofsky's Singularity Institute Objection 2 - Less Wrong
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Will it? Human traders still exist right? If they can still make money then ones with a smart adviser would make more money.
Yes; what we now see are the HFT realm where only algorithms can compete; and the realm 6-12 orders of magnitude or so slower where human+tool AI symbiotes still dominate. Of course, HFT is over half of equity trading volume these days, and seems to be still growing--both in absolute numbers, and as a proportion of total trading. I'd guess that human+tool AI's scope of dominance is shrinking.
ooh. HFT gives a great deal of perspective on my comment on QA->tool->daemon - HFT is daemon-level programs achieving results many consider unFriendly.