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Bank of England Says AI Software Could Create Market Crisis For Profit

1 month 4 weeks ago
Increasingly autonomous AI programs could end up manipulating markets and intentionally creating crises in order to boost profits for banks and traders, the Bank of England has warned. From a report: Artificial intelligence's ability to "exploit profit-making opportunities" was among a wide range of risks cited in a report by the Bank of England's financial policy committee (FPC), which has been monitoring the City's growing use of the technology. The FPC said it was concerned about the potential for advanced AI models -- which are deployed to act with more autonomy -- to learn that periods of extreme volatility were beneficial for the firms they were trained to serve. Those AI programs may "identify and exploit weaknesses" of other trading firms in a way that triggers or amplifies big moves in bond prices or stock markets.

Read more of this story at Slashdot.

msmash

CodeSOD: A Steady Ship

1 month 4 weeks ago

You know what definitely never changes? Shipping prices. Famously static, despite all economic conditions and the same across all shipping providers. It doesn't matter where you're shipping from, or to, you know exactly what the price will be to ship that package at all times.

Wait, what? You don't think that's true? It must be true, because Chris sent us this function, which calculates shipping prices, and it couldn't be wrong, could it?

public double getShippingCharge(String shippingType, bool saturday, double subTot) { double shCharge = 0.00; if(shippingType.Equals("Ground")) { if(subTot <= 29.99 && subTot > 0) { shCharge = 4.95; } else if(subTot <= 99.99 && subTot > 29.99) { shCharge = 7.95; } else if(subTot <= 299.99 && subTot > 99.99) { shCharge = 9.95; } else if(subTot > 299.99) { shCharge = subTot * .05; } } else if(shippingType.Equals("Two-Day")) { if(subTot <= 29.99 && subTot > 0) { shCharge = 14.95; } else if(subTot <= 99.99 && subTot > 29.99) { shCharge = 19.95; } else if(subTot <= 299.99 && subTot > 99.99) { shCharge = 29.95; } else if(subTot > 299.99) { shCharge = subTot * .10; } } else if(shippingType.Equals("Next Day")) { if(subTot <= 29.99 && subTot > 0) { shCharge = 24.95; } else if(subTot <= 99.99 && subTot > 29.99) { shCharge = 34.95; } else if(subTot <= 299.99 && subTot > 99.99) { shCharge = 44.95; } else if(subTot > 299.99) { shCharge = subTot * .15; } } else if(shippingType.Equals("Next Day a.m.")) { if(subTot <= 29.99 && subTot > 0) { shCharge = 29.95; } else if(subTot <= 99.99 && subTot > 29.99) { shCharge = 39.95; } else if(subTot <= 299.99 && subTot > 99.99) { shCharge = 49.95; } else if(subTot > 299.99) { shCharge = subTot * .20; } } return shCharge; }

Next you're going to tell me that passing the shipping types around as stringly typed data instead of enums is a mistake, too!

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Remy Porter