A year ago, Bloomberg published numerous studies concerning automation. The hundred of thousands of highly educated individuals started to panic and asked the same question: “Will my job be here in ten years when it’s time for my oldest to head to college?’”
However, the latest articles on the topic have been more cautious and showed that AI is not ready yet to replace investor’s process.
Back in the 1990s, Paul Tudor Jones assigned a team of coders to a project dubbed “Paul in a Box”
This algorithm has tried to mimic Paul Tudor’s analytical process and did not succeed yet; even if progress has been made.
Let’s not forget about the reluctance of Bosses to fire a lot of their staffs, which would reduce their authority. Not to mention that they might end up embracing a technology that they do not understand.
That’s not to say that the current limitations of the technology aren’t also a factor. Machine learning, according to Gartner Inc.’s hype cycle for new technologies, is at the “peak of inflated expectations” and heading to the “trough of disillusionment”
Don’t Believe the Hype
As we can see, most of the different technologies we hear every day in the news are still at an early stage.
The Drone Analogy
I can still remember, 2 years ago the Hype around Drones and the fact that in a few months, they would be delivering us pizza or parcels. It did not happened yet but nowadays, nobody is talking about these companies that are performing very well in different areas such as Security, Real Estate, Agriculture…
Even Blockchain has not passed the “Trough of Disillusionment” Phase. It will come but Be careful of the HYPE!
I will publish another article to explain the different phase of the Gartner Hype Cycle.
Stay tuned !
Sources:
- http://www.zerohedge.com/news/2017-10-23/machine-learnings-overhyped-potential-headed-toward-trough-disillusionment
- https://www.gartner.com/technology/research/methodologies/hype-cycle.js
