algorithm

“Analytics and algorithms are light. Data is very heavy. So the natural course of things will be that the algorithms will move to where the data lives. And the entities that have the data will ultimately win because of that strategic advantage”

“And the real, what we found is that the differentiation comes from old-fashioned, the ability of their people to use it. It's in the feedback loop, which is truly proprietary to them. And as the algorithms improve, based on the, that's where the competitive tr…”

“So the algorithms that we've put in place of humans, although quicker, sometimes misbehave because they're not that, that smart, and they're not that smart because they've got to be quick.”

“The case in point of Knight Capital a couple of years ago they released an algorithm onto the market. It was never supposed to be on the market. It was an algorithm that was meant for testing. It somehow makes its way off the staging machine and into the real …”

“Now, of course, if algorithms can start to read the news, they'll, surely, they'll start writing the news.”

“Sometimes the algorithms get together and decide collectively to wipe about a trillion dollars of market capitalization off the global financial markets only to return it about 15 minutes later with nothing really happening in the world around that.”

“I think we're going to see subscriptions. I think we're going to see people coming out and saying, you know what, I want a little more control of this algorithm, the information that it gives me, the friends that it chooses.”

“Our belief is that AI and machine learning, you will not win this war by having the better algorithm. The differentiator, the value proposition, is not in the algorithm. It's actually in the data.”

“Great data usually beats great algorithms.”

“In the last year we sped up the algorithms by about 500 times, and now they are able to run real time on the robots and there is still optimizations to be done.”

“So we humans, right, I can see a future where our full-time occupation is to tell the, you know, algorithms what we want to do, set the objective function, set the boundaries, and then verify the solutions all the time, continuously.”

“What's happened a lot in the past is people have kind of like taken the head in the sand approach where they've sort of said like, oh you know, we're not even collecting protected classes, so we can't possibly be biased as far as we know, and that's no longer …”