Exploratory Engineering in AI

  title={Exploratory Engineering in AI},
  author={Bill Hibbard},
For example, consider the autonomous trading programs which lost Knight Capital $440 million (pre-tax) on August 1st, 2012, requiring the firm to quickly raise $400 million to avoid bankruptcy. This event undermines a common view that AI systems cannot cause much harm because they will only ever be tools of human masters. Autonomous trading programs make millions of trading decisions per day, and they were given sufficient capability to nearly bankrupt one of the largest traders in U.S… CONTINUE READING

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