If we do not understand how complex technologies function then their potential is more easily captured by selfish elites and corporations. The results of this can be seen all around us. There is a causal relationship between the complex opacity of the systems we encounter every day and global issues of inequality, violence, populism and fundamentalism.
Instead of a utopian future in which technological advancement casts a dazzling, emancipatory light on the world, we seem to be entering a new dark age characterised by ever more bizarre and unforeseen events. The Enlightenment ideal of distributing more information ever more widely has not led us to greater understanding and growing peace, but instead seems to be fostering social divisions, distrust, conspiracy theories and post-factual politics. To understand what is happening, it’s necessary to understand how our technologies have come to be, and how we have come to place so much faith in them.
Over the last few decades, trading floors around the world have fallen silent, as people are replaced by banks of computers that trade automatically. Digitisation meant that trades within, as well as between, stock exchangescould happen faster and faster. As trading passed into the hands of machines, it became possible to react almost instantaneously. High-Frequency Trading (HFT) algorithms, designed by former physics PhD students to take advantage of millisecond advantages, entered the market, and traders gave them names such as The Knife. These algorithms were capable of eking out fractions of a cent on every trade, and they could do it millions of times a day.https://www.msn.com/en-gb/money/technology/rise-of-the-machines-has-technology-evolved-beyond-our-control/ar-AAyI40W?ocid=spartanntp