IAS Fellow's Public Lecture - Emergent Effects in Automated Finance Trading Algorithms
With the exponential increase in financial trades made by automated algorithms, 70% of all trades are now executed by algorithms operating at micro-temporal regimes inaccessible to humans. The algorithms are able to sense what competing algorithms intend to do, giving rise to complex social dynamics in which the faster, more aggressive algorithms hunt in packs, looking for "whales" (large orders) that they can out-bid and manipulate to their advantage. With the stock market's transition to a machine-machine ecology rather than the older human-machine ecology, emergent effects arise that undermine the stability and robustness of the entire global financial system. This talk will explore the implications of these developments as a case study in the interactions of technical cognitive nonconscious systems with the human systems in which they are embedded.
This lecture is free and open to all.
Details about Professor Katherine Hayles
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