Thomas comments on Open Thread, Jul. 20 - Jul. 26, 2015 - Less Wrong Discussion
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Quite possible, even quite likely. I think that the nature is trying to tell us this, by just how bad we humans are at arithmetic, for example.
It's not the algorithms, it's the circuitry itself that is inefficient. Signals propagate slowly through the brain. They require chemical reactions. Neurons are actually fairly big. You could fill the same space with many smaller transistors.