Automation is one of the big sleeper issues of the 2020 presidential campaign. Most candidates aren't focusing on it by name, even though it profoundly shapes key themes in the race: the U.S. economy, jobs and friction between the haves and have-nots.
Why it matters: "If we stay on the trajectory we're on currently, we're going to have greater income inequality, less social mobility, greater political unrest and greater income insecurity," says Elisabeth Reynolds, executive director of the MIT Task Force on the Work of the Future.
At a two-hour hearing in Washington, D.C. on Friday, lawmakers questioned experts on bias in artificial intelligence, the struggle to attract skilled workers, and how to navigate and regulate an increasingly data-driven financial market, Bloomberg reports.
Why it matters, per Bloomberg: "The use of algorithms in electronic markets has automated the jobs of tens of thousands of execution traders worldwide, and it's also displaced people who model prices and risk or build investment portfolios," the former head of machine learning at AQR Capital Management LLC Marcos Lopez de Prado said.
Loans for new and used cars hit a new record in the third quarter, as consumers continue to opt for cars with newer technology and higher price tags, Bloomberg reports.
Why it matters: Auto debt in the U.S. continues to grow and topped $1.32 trillion in the third quarter — up $50 billion from last year, Bloomberg notes. The number of 90-day car loan delinquencies also increased from 4.27% last year to 4.71%.
A recently released AI program that generates hyper-realistic writing has become a powerful tool for storytelling, hinting at a new genre of computer-aided creativity.
What's happening: Inventive programmers are using it to generate poetry, interactive text adventures, and even irreverent new prompts for the popular game Cards Against Humanity.
Amazon saw a record number of new subscriptions in the United Kingdom on Dec. 3-4 after it live-streamed 10 top-flight Premier League matches on its Prime Video service, The Guardian reports.
Why it matters: Amazon said the two days set records for most new sign-ups since the company launched its Prime service in the U.K. in 2007. If the company decides to bid on the rights to livestream more matches, it could prove to be a serious challenge to digital platforms Sky and BT, The Guardian notes. Amazon has the resources to challenge and outbid both companies for Premier League rights.
AI is better at recognizing objects than the average human — but only under super-specific circumstances. Even a slightly unusual scene can cause it to fail.
Why it matters: Image recognition is at the heart of frontier AI products like autonomous cars, delivery drones and facial recognition. But these systems are held back by serious problems interpreting the messy real world.
