Management at the world’s largest hedge fund is to be automated and replaced with artificial intelligence. A computer software algorithm will decide the day-to-day management at Bridgewater Associates LP, the world’s largest hedge-fund firm. The global labour force is being replaced and managed by artificial intelligence and robotic automation. Various estimates suggest the American employment mill could shrink by 30% by the year 2025. The United Nations’ assessment is even grimmer. They project two-thirds of the human workforce will be replaced in the next decade. Usually, the major sectors included in these loss reports are manufacturing, retail, and blue collar jobs. However, a new analysis suggests white collar jobs are not immune, and now the world’s largest hedge fund is replacing its managers with artificial intelligence. From Anti Media: The firm Bridgewater Associates, which manages $160 billion worth of assets, tasked a team of its engineers with creating AI software that can automate decision-making and eliminate emotion from financial analysis. Leading the effort is the same man, David Ferrucci, who helmed IBM’s supercomputer Watson, which became famous in 2011 for beating humans at Jeopardy! Now Ferrucci is developing the ambitious PriOS management software that Bridgewater anticipates will make three-quarters of [...]
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