Category: Artificial Intelligence
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Algorithms and Algocracy – I
While the concept of algorithms has been around for centuries, the same cannot be said about algocracy. The latter has recently gained notoriety thanks partly to the renaissance of Artificial Intelligence and Machine Learning (AI/ML) and is frequently used to describe the increased use of algorithms in decision-making and governance processes. Indeed, the so-called Singularity…
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Uncertainty and Artificial Intelligence
In a world where perfect information supposedly rules across the board, uncertainty certainly challenges mainstream economists. While some of the tenets of such assumption have already been addressed – via the theory of information asymmetries and the development of the rational expectations school, for example, uncertainty still poses critical questions. For starters, uncertainty should not…
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Learning about Machine Learning
A few months ago, as I was finishing a paper on blockchain technology, I received an unexpected comment on Artificial Intelligence (AI from here on in) from one of the peer reviewers. While addressing the overall topic of innovation in the 21st Century, I mentioned in passing the revival of both AI and Machine Learning…