I recently blogged about the risks of social rating systems. Machine learning adds another dimension to this. In her book "Weapons of Math Destruction", Cathy O'Neil highlights the umaccountability of algorithms used to make decisions that have a significant impact on peoples' lives. The details of these algorithms are often undocumented---for commercial or security reasons---making it difficult … [Read more...]
Machine learning replacing traders at Goldman Sachs
Traditionally automation has displaced low skilled labor. But the big opportunities for machine learning lie in the areas currently staffed by professionals. Marty Chavez, deputy CFO at Goldman Sachs recently explained that automation had cost 600 equity traders their jobs. Furthermore, he went on to describe how the same innovation is being applied to areas such as currency trading and even some … [Read more...]
Slot machine hack
Wired has an article on a slot machine hack that seems to make use of data analytics. The hack relies on a weakness introduced in the pseudo-random number generator used by the machines from Austrian gaming company Novomatic. Teams in the casino video the machines using their cellphones. The videos are then sent to St Petersburg where they are analyzed---there are no technical details available … [Read more...]
Personal rating dystopias
Black Mirror's "Nosedive" episode portrays a future society, frighteningly like our own, in which people rate each other as a consequence of all kinds of trivial social interactions. Your overall rating is public and determines your job prospects, housing options, social invitations, etc---causing people to obsess over improving them. As in most public policy decisions you control behavior by … [Read more...]
Visualization pioneer, Hans Rosling, dies aged 68
Hans Rosling has died this week, aged 68. He become famous due to a TED talk he gave in 2006. In the talk he brought international health statistics to life via animated visualizations. He used motion to help viewers make sense of the data. The software used in his talk was later released as Gapminder and can be used by anyone wishing to display their own data using time-based animation. … [Read more...]