As the American economy continues to recover and expand following the biggest financial crisis since the Great Depression, the U.S. financial market still periodically comes to a screeching halt when everyone turns their attention to a group of 12 economic oracles, the members of the Federal Open Market Committee (FOMC).
Though wise, thoughtful, and highly qualified, the 12 FOMC members carry an extremely heavy burden in determining the direction of the world’s most influential economy.
What’s The Alternative?
Does the burden on the FOMC have to be so heavy, and does such important policy have to be so subjective?
Modern artificial intelligence (AI) can handle much more than pre-programmed instructions. Google Inc GOOG 1.91% GOOGL 2.14%’s DQN algorithm learned how to master Atari video games.
Apple Inc. AAPL 1.75%’s Siri application can adapt to a user’s personal preferences and language usage. And International Business Machines Corp IBM 1.5%’s Watson and Deep Blue proved capable of defeating human world champions of trivia and chess, respectively.
AI Monetary Policy
Tim Anderson, Managing Director at MND Partners, told…
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