Tag Archive : finance

High-End Finance Jobs Will Be Displaced By AI, Too

Artificial intelligence is not just coming for the jobs of barbers and baristas. It is coming for high-paid professions, too. Even financial professionals could see increasing pressure from technology, too.

According to a recent Brookings Institution report, white-collar jobs and occupations requiring higher education, as well as production workers, will see their jobs eaten by AI.  The report uses a new analysis of patent data by Stanford University graduate student Michael Webb. Read More

Bitcoin: The End Of The Money Taboo?

[heading]Bitcoin: The End Of The Money Taboo?[/heading]

“The most powerful forces, those that interest us the most, are not in a specular and negative relation to modernity, to the contrary they move on transversal trajectories. On this basis we shouldn’t conclude that they oppose everything that is modern and rational, but that are engaged in creating new forms of rationality and new forms of liberation.” – Negri and Hardt, 2010, “Commonwealth”

Bitcoin represents “the end of the taboo on money,” as Denis Roio wrote in an academic paper. Because fiat money is associated with greed, war and estrangement, it has gained a bad reputation. But, with society’s curiousity in bitcoin, they will learn that a thing like money cannot be itself nefarious. It is merely a medium. Bitcoin, the US dollar, all forms of money, are merely mediums. Humans use it towards certain ends. But they cannot use themselves towards certain ends, good or bad.

In his essay, Roio highlights two memorable events in the history bitcoin he sees as important. The first is the January 2011 financial blockade of bitcoin. Later that year, on May 9, Forbes published its first article on bitcoin, marking a certain turning point. In June of that year bitcoin broke all previous records by trading around $30 for a short time before crashing. Interest in the digital currency was at an all-time high, as Google Trends makes clear. But, why are people so interested in bitcoin? Read More