With all the speculation about the extent to which Artificial Intelligence will lead to job losses, there has not been much in the way of worry about job security for company directors. Or at least not until yesterday, when the Harvard Business Review online decided to “reimagine the boardroom for an age of Virtual Reality and AI”.
This has to do with more than Virtual re-creations of experience of customers, partners and suppliers, although developments on that front are pretty startling too. The headline news in the HBR story was the recent appointment to the board of a Hong Kong-based VC fund of . . . an algorithm. Essentially hired to make investment recommendations based upon analysis of mountains of data beyond the comprehension of any single human individual, a software program called “VITAL” even has a vote in whether or not to proceed with investments on behalf of Deep Knowledge Ventures, a company focusing on age-related disease drugs.
VITAL (Validating Investment Tool for Advancing Life Sciences) uses machine learning to predict which investments are most sound based upon analysis of financial data and trends in the databases of life science companies. Of the two decisions on which it is assisted to date, each of the companies involved is similar in function to VITAL itself, it seems, suggesting a commendable singularity of focus. After all, among the ranks of human company directors, how many would rule favourably on the appointment of someone too similar to themselves?
Lively Stuff from Planet BAM!
- Digital printing, but is it art?
and other questions relating to the potential for AI to contribute to our culture
- The teenage brain, considered from the perspective of a neuroscientist
with additional reflections on new books from Norman Doidge and Michael Gazzaniga
- Robots in popular culture
an amusing read on the impact made by robots – so far – on the world of movies