TEDxNewWallStreet - Sean Gourley - High frequency trading and the new algorithmic ecosystem



Speaker Bio: Dr. Sean Gourley is the founder and CTO of Quid. He is a Physicist by training and has studied the mathematical patterns of war and terrorism. He is building tools to augment human intelligence. Description of Talk: The speed of human strategic thinking is fundamentally limited by the biological hardware that makes up the brain. As humans we simply cannot operate on the millisecond time scale -- but algorithms can, and it is these algorithms that are now dominating the financial landscape. In this talk Sean Gourley examines this high frequency algorithmic ecosystem. An ecosystem, Gourley argues, that has evolved to the point where we as humans are no longer fully in control. About TEDx: In the spirit of ideas worth spreading, TEDx is a program of local, self-organized events that bring people together to share a TED-like experience. At a TEDx event, TEDTalks video and live speakers combine to spark deep discussion and connection in a small group. These local, self-organized events are branded TEDx, where x = independently organized TED event. The TED Conference provides general guidance for the TEDx program, but individual TEDx events are self-organized.* (*Subject to certain rules and regulations)

Comments

  1. This comment sections is full of trading bots.
  2. When he starts the talk talking about a human brine, you know it's gonna be good.
  3. ok that is dumb...If the algorithms read the news papers to make decisions they are doomed when they hit cnn, ms nbc, wasinghto post, new york times aka the fake news networks ! Lmao.
  4. entertaining but full of shit
  5. what scares me to death about these things is i trade futures contracts and at any moment a crash can place a futures position of mine -$20,000 within, as he said, seconds!!!!!!!!!!!!!!!
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  9. they should show this in televison globally just for the fun.... humans is just low power machines. when the machines use less power than human , then humans are history. you are a tool.... born by another tool....making the tool who replace your exsistance..... the best thing about technology is that it keeps us busy...for a while.
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  12. This was one of my most liked Ted Talks. Great, illuminating storytelling.
  13. This presentation is shit, visually
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  18. Great talk.
  19. He was saying that algos are taking over markets and we are no longer living in the same world (the nanoseconds world). Then to take on that world we need some super human type of exoskeleton.... in the form of artificial intelligence (which is another form of algorithm) and still humans are limited to 650-900 milliseconds. Does he really think any human can follow what that artificial intelligence is doing at nanoseconds?In his Augmented Intelligence explanation on how to do this, one can only analyze the data AFTER THE FACT through visualizations or math. Which basically what he has done when he is showing charts from NANEX data visualizations. He is not solving anything. I am not defending any of the trading algorithms but I can tell you this, with a rule based trading algorithm, you can more readily understand the rules and ascertain if the rules of those algorithms caused the crash ( which some had proven it was, such as BATS crash). You can then formulate mitigating rules to prevent it. With AI based algorithm it is a black box unless you build into that AI that it can explain its actions. Let's say if it was built upon neural network, you cannot really understand what its rules are and what it is doing, it is even worse. Just because AI is improving a lot does not mean it is the solution for everything. He had said it himself, why should an algorithm which lived in nanosecond world decides our world, yet his solution is to put more algorithm in. The solution is simple, put a speed limit, something that IEX is doing though I think IEX can and should slow down the speed further.
  20. 3:15 ..... spot on. The algos caused flash crash, and one poor human sucker got the blame


Additional Information:

Visibility: 218280

Duration: 17m 43s

Rating: 2060