Tag Archives: intelligence

The Science of Wealth-Making: Tall, Sexy, Nerdy and Electric

Flickr--Creative Commons

Flickr–Creative Commons

There’s been a conversation about how people become wealthy on a few blogs the last couple of days..

A guest post on Financial Samurai offers an untraditional roadmap to financial success. This is a response to a previous post on making a six-figure salary.

There is no one true path to building wealth. There are a lot. You can earn it. You can invest it. You can win it. Someone can give it to you.

There seems to be no consensus on who gets rich, either. The rich get richer, they say. But do the poor become richer? Do the smart become richer? Do the religious become richer? Do the well-educated become rich? Do the pretty become rich?

What I would like to do is pull in the scientists and see what they have to say about the rich — how they became rich and, maybe, how you can become wealthy, too.

You don’t have to be smart to be rich. According to a study in the journal of Intelligence, there’s no correlation between IQ and how much money you have.

But, you should have a high SAT score, according to this study.

But, you should still have been popular in high school. Popular kids tend to earn more later. *My two cents: Now, they just need to have a study on how to be popular AND be a nerdy, high-SAT student.

Owners of electric vehicles are richer (and smarter), according to this US News story. *My two cents: It may mean that the rich can withstand the economic impact of what are currently inefficient vehicles.

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Will Automated Trading Turn Me Into An Idiot?

imwithstupid

We talked yesterday about traders fearing that Automated Trading will turn them into lazy slobs. The fear, I think, is unfounded.

Another fear real traders have is that Automated Trading will turn them into idiots. By relying on technology to complete their trades, they’ll lose their knack for picking winners. Or so the thinking goes. Maybe they’re afraid the instincts that they have honed over years in the market tranches will fade. Or, some of this knowledge will just disappear.

If you don’t use it, you’ll lose it.

I believe this fear is completely ungrounded. If the Automated Trading system or systems are use correctly, they can be study aids for the trader. And, at the very least give the trader time to study and implement his or her own position moves.

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There’s No Such Thing As Artificial Intelligence

Stair RobotThere is no artificial intelligence.

It may seem strange coming from a person who is part of a business that uses artificial intelligence technology. I’ve also seen artificial intelligence in action. It works.

And maybe my disagreement is merely semantics, but artificial intelligence produces a negative connotation, like artificial sweetener or artificial Christmas trees. It implies that it is fake.

There is only intelligence. There may be machine-produced intelligence, or artificially-enhanced intelligence, but intelligence is intelligence. Intelligence is intention working on data to produce a result.

Saying something is artificial has a connotation that the intelligence involved is inferior, as well. And I’m convinced that’s not the case.

While watching our own technology work, I can see the intelligence grasping a challenge and sorting for answers, just like I–or any other person–would, but at a much higher efficiency than I am capable of producing. (It doesn’t break to make another pot of coffee.)

When I read about other AI projects, the realization is even more startling.

In this Computer World article, artificial intelligence is starting to deliver on its promise. A Stanford University robot named “Stair,” powered by AI, can identify objects, “fetch” them, and tell you when it’s done. This technology may seem primitive, but its an exponential boost from just a few years ago.

As the writer points out:

Indeed, Stair represents a new wave of AI, one that integrates learning, vision, navigation, manipulation, planning, reasoning, speech and natural-language processing. It also marks a transition of AI from narrow, carefully defined domains to real-world situations in which systems learn to deal with complex data and adapt to uncertainty.

Artificial intelligence, in other words, is becoming just plain intelligent.

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