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The first form of artificial intelligence was invented in England back in 1951.
Artificial intelligence is used in a wide range of applications, from personal assistants to cars.
Artificial intelligence can make huge improvements to our quality of life, but it isn’t perfect.
Right now, artificial intelligence is pervasive. The basics of machine learning and artificial intelligence have been around for a long time. The first primitive form of artificial intelligence was an automated checkers bot created by the University of Manchester in 1951.
It has come a long way since then, and we are starting to see a number of high profile use cases for the technology being thrust into the mainstream.
Some of the hottest applications of Artificial Intelligence include the development of self-driving cars, facial recognition software, virtual assistants, and a huge array of industrial applications.
There is an investing app called Q.ai.
What are the pros and cons of the use of artificial intelligence in our daily lives? Is it a force for good or evil?
Q.ai gives you access to investment strategies.
The pros and cons of artificial intelligence
There are a lot of benefits to using Artificial Intelligence. There is a reason that it is becoming so popular, and it is because of the technology that makes our lives easier.
Humans are wonderful. We’re awesome. We are not perfect. After a few hours in front of a computer screen, we can get a little tired and careless. Some lunch, a coffee and a lap around the block isn’t going to fix it.
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If we are fresh at the start of the day, we might be distracted by what is going on at home. Maybe we are going through a bad break up, our football team lost last night, or someone cut us off in traffic on our way to work.
It is normal for people to move in and out.
These mistakes can be caused by a lack of attention. Bigger mistakes which can lead to injury, or even death, can be made when typing the wrong number in a mathematical equation, missing out a line of code, or in the case of heavy duty workplace like factories.
It’s 24/7. Uptime.
Artificial Intelligence doesn’t suffer from sugar crashes or need a coffee to get through the day. The power can be turned on for 24 hours a day, 7 days a week.
An artificial intelligence program can run constantly. It will do the same things forever.
It makes them a better employee than a human. There are fewer errors, less downtime and a higher level of safety with it. They are pros in our book.
Large sets of data can be analyzed fast.
This is a big deal for us here at Q.ai. Humans can’t match the results of analyzing large datasets It would take days or weeks for a human to go through 10,000 lines of data on a spreadsheet.
It is possible in a matter of minutes.
A machine learning program can analyze a lot of data in a short amount of time. We use this capability extensively in our Investment Kits, with our artificial intelligence looking at a wide range of historical stock and market performance and volatility data and comparing it to other data such as interest rates, oil prices and more.
Predicting what might happen in the future can be done with the help of an artificial intelligence. It has huge real world implications. It is an investment management game-changer.
The pros and cons of artificial intelligence.
But not all roses. There are some drawbacks to using machine learning. It doesn’t mean we shouldn’t use it, but we need to understand its limitations so that we can implement it in the right way
Lacks imagination
What has happened in the past is the basis for the decisions that are made. It’s not a good idea to come up with new and innovative ways to look at problems or situations. It isn’t going to be perfect, but the past is a good guide as to what might happen in the future.
There is always the chance for a variable to sit outside of expected outcomes.
Artificial intelligence works well for doinggrunt work and keeping strategy decisions and ideas to the human mind.
The way we implement this is by having our financial analysts come up with an investment thesis and strategy and then have our artificial intelligence take care of the implementation.
To get the desired outcome for our clients, we need to tell our artificial intelligence which datasets to look at. We can’t say «go generate returns.» We need to give parameters on which data points make a good investment in the given strategy in order for the artificial intelligence to look at.
Employment reduces.
We are on the fence about this one, but it is a common argument against using artificial intelligence.
Human jobs are unlikely to be affected by some uses of artificial intelligence. Automatic braking in the event of a crash is possible with the image processing artificial intelligence in new cars. That is not a replacement for a job.
An artificial intelligence-powered robot is assembling those cars in the factory and it is probably taking the place of a human.
The current iteration of artificial intelligence is aiming to replace dangerous and repetitive work, which is important to keep in mind. It frees up human workers to do more creative work, which is likely to be more satisfying.
Artificial intelligence is going to allow for the invention and many aids which will help workers be more efficient in the work they do. We believe that artificial intelligence is a positive thing for the human workforce in the long run, but there will be some growing pains in between.
Is there an ethical dilemma?
Artificial intelligence is not logical. The preset parameters leave little room for emotion and nuance. The fixed rules allow it to analyze and predict huge amounts of data.
It’s difficult to incorporate ethics and morality into the algorithm because of this. There is room for bias within the artificial intelligence because it is only as good as the parameters set by its creators.
Imagine the case of an autonomously driving vehicle, which gets into a potential road traffic accident situation, where it has to choose between driving off a cliff or hitting a pedestrian. Our instincts will take over in that situation. With no time for thought on the best course of action, our instincts will be based on our own personal background and history.
In an emergency situation, the decision will be based on what the algorithm has been programmed to do. This can be a very challenging problem to address.
How to use Artificial Intelligence to create wealth.
We use Artificial Intelligence in all of our Investment Kits. Our Global Trends Kit uses machine learning and artificial intelligence to predict the risk-adjusted performance of a range of different asset classes.
The asset classes include stocks and bonds, emerging markets, oil, gold, and even the volatility index.
The portfolio is rebalanced based on the best mix of risk and return based on a huge amount of historical data after the predictions are made each week.
Portfolio Protection can be used by investors. This uses machine learning to analyze the portfolio’s sensitivity to various forms of risk, such as oil risk, interest rate risk, and overall market risk. The hedging strategies it implements aim to reduce the downside risk of the portfolio.
Q.ai can help you harness the power of artificial intelligence for your financial future if you believe in it.
Q.ai provides access to investment strategies powered by artificial intelligence.