One of the world’s largest investment banks, JPMorgan, is preparing to employ a robot to work in its global equities business because it’s shown itself to be more efficient than traditional methods of buying and selling, according to a report on the Financial Times website.
The artificial intelligence-based algorithm, which is called LOXM, has been tested in the US and Asia over the first quarter of this year, adds the FT.
The newspaper quotes David Fellah, of JPMorgan’s European Equity Quant Research team, as saying the work LOXM will do was previously done by humans, “but now the AI machine is able to do it on a much larger and more efficient scale”.
The phrase “bricks and mortar” is till used to conjure up images of buildings, residential or commercial. Usually, the phrase differentiates between something virtual or exists only in computers, say a website for a shop, and something that is physical, like an actual, real-world shop on the high street, for example.
But, along with everything else in the known world, bricks-and-mortar building are being computerised. Those that have already integrated some degree of computer technology are often called “smart homes”, if they are residential, and “intelligent buildings”, if they are commercial.
A lot of experts say that over the next decade or so, the vast majority of buildings – commercial and residential – will become computerised, or become “smarter”.
Outspoken American talk show host Alex Jones has been on a verbal rampage against what he calls “anti-human robots” in the hands of the “technocracy” – a mysterious cabal secretly controlling society.
In his latest tirade against what he has dubbed a “breakaway civilisation” of elite groups bent on enslaving the rest of humanity, the influential commentator says the present political and economic situation on Earth is equivalent to an “alien invasion”.