AlphaGo is invincible but will withdraw from the competitive arena. Wall Street is also losing ground in front of the robot.

When Seoul defeated legendary player Li Shishi in Seoul in 2016, AlphaGo's innovative approach brought new knowledge to the world of chess. The unofficial game played on the Internet as a Master at the beginning of the year also brought far-reaching influence to many top players including Ke Jie. Pairing the two top players with AlphaGo also demonstrates the potential of humans to use AI to generate new insights in complex areas.

Many athletes choose to retire after winning the championship. And what kind of "decision" will Google make when Google's artificial intelligence AlphaGo beats all challengers in the oldest and most complex board games? Last week, in the highly anticipated Ke Jie against AlphaGo Go, Ke Jie lost 0-3 to artificial intelligence AlphaGo. This result also attracted close attention from AI enthusiasts and researchers. To be sure, AlphaGo's superior ability is impressive.

AlphaGo is invincible but will withdraw from the arena. Wall Street is also losing ground in front of the robot.

According to foreign media reports, the DeepMind team said on Monday that AlphaGo will shift its focus to new challenges. The team said in a blog post: "If the AI ​​system proves that they can discover new knowledge and strategies in some areas, then the breakthroughs in these areas will be considerable. We can't wait to see this happen."

According to the DeepMind team, these new goals may include "new disease treatments, significant reductions in energy consumption, and the creation of revolutionary new materials." Previously, they added: "Although AlphaGo will withdraw from the stage of the competition, this is by no means the end of our cooperation with the world of chess."

The next step for AlphaGo is to cure and reduce energy consumption.

The Go game has given positive comments to AlphaGo. Professional and amateur Go enthusiasts also welcomed AlphaGo's new perspective on the ancient game of Go. Their reaction to AlphaGo made us very moved. We plan to apply these new findings to other new areas to address some of the most important and pressing scientific challenges we are currently facing.

For AlphaGo, this week's series of exciting matches with the world's top players in the birthplace of Go is already the pinnacle of its competitive program. Therefore, the Go Summit will be the last event that AlphaGo participated in.

From now on, AlphaGo's R&D team will focus on other major challenges and develop advanced general-purpose algorithms to help scientists solve the most complex problems, including finding new treatments for diseases, significantly reducing energy consumption, and inventing revolutions. Sexual new materials, etc. If artificial intelligence can discover new knowledge and strategies in these areas, then breakthroughs in these areas will be considerable. We can't wait to see this happen.

Wall Street is also losing ground in front of the machine.

The 223-year-old Bank of New York Mellon has launched more than 220 “Robot Legions” in the past fifteen months to increase work efficiency and reduce operating costs. Unfortunately, the number of employees employed on Wall Street is decreasing year by year. In the past year, among the top 12 investment banks on Wall Street, the number of employees in stocks, fixed-income and investment banks fell by 3%, a decrease of 1,900. This is the fifth consecutive year of Wall Street employees' decline. Since 2012, Wall Street has cut a total of 12,700 employees.

AlphaGo is invincible but will withdraw from the arena. Wall Street is also losing ground in front of the robot.

This is data from the CoaliTIon data analysis company, including Bank of America Merrill Lynch, Barclays, Fabba, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan Chase, Morgan Stanley, Societe Generale and UBS has 12 investment banks.

The cuts of employees are inseparable from the "robots".

The 223-year-old Bank of New York Mellon has launched more than 220 “Robot Legions” in the past fifteen months to increase work efficiency and reduce operating costs. The bank is expected to save $300,000 a year.

The CEO of BlackRock, the world's largest asset management company, believes that BlackRated's Alto's solution business revenue share will jump from the current 7% to 30% in the next five years. Aladdin is a risk management and trading system developed by BlackRock. Based on a large number of reliable historical data, Aladdin uses algorithms to predict the future trend of stocks, bonds and other assets.

Looking at the recruitment trends of investment banks and even hedge funds, the traditional financial talent situation is even more severe. Passive investment has significantly outperformed active investment, and quantifying talent is more popular than stock selection managers.

Last month, BlackRock announced that layoffs of 40 active fund employees, including seven portfolio managers, were replaced by quantitative investment strategies. A $6 billion asset will be invested in a quantitative investment strategy using computer and mathematical models in the future.

InsTItuTIonal Investor's Alpha Rich List shows that 25 high-income hedge fund managers totaled $9.4 billion last year, almost half of what it was three years ago, lower than the 2008 financial crisis. Last year, the threshold of $130 million was from 2011. lowest.

What is even more sorrowful for the financial community is that the wealthiest fund managers have become vulnerable groups in the battle for quantifying talent.

All companies, from investment banks, hedge funds, to technology companies, to other top 500 companies, data scientists are absolutely sweet. Data scientists can explore consumer demand from pictures on social media, and can model financial markets to make the best investment decisions.

The CEO of Man Group, the world's largest listed hedge fund company, told the Wall Street Journal that Google is collecting data scientists from around the world. "Google is richer than me, I can't grab people with Google."

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