Believe it or not, but the reason for job cuts is not AI, but companies that are assuming artificial intelligence has it all and can be optimized without human intervention. When that bubble bursts, we will get clarity on how impactful AI really is and if one can blindly depend on it for sustainable efficiency. A lot of stock market investors depend on algorithmic trading. It is a type of trading that uses certain complex mathematical calculations that predict where the market is going and makes investment decisions accordingly. However, the current war that the USA and Israel have waged on Iran has resulted in the year’s worst stock market crash. Soumitra Dutta, former dean of Oxford’s Said Business School whose favourite subject is AI, in which he majored, has always emphasized that AI is here to help us make our lives simpler but that does not mean we must blindly depend on AI to do everything for us. 

Algo trading from transforming markets to crashing them 

Maybe humans have gotten so comfortable with artificial intelligence that they are expecting it to do their jobs rather than using it as a tool to help them do their jobs more efficiently. And this is exactly what the current stock market crash looks like, as trading without human intervention is not a good idea because AI is eventually a technology and technology is bound to have glitches. When humans are investing so much surplus amounts in the stock market every day, they should definitely consider spending a fraction of it on investment bankers, because blindly putting your faith in AI is not feasible. It is high time that people stop treating AI as an infallible system and accept that, without human intervention, AI may become a curse rather than a boon.  

Without human intervention, AI still seems to remain unreliable 

Former Oxford Dean Soumitra Dutta in his previous interviews, has been clear about the fact that artificial intelligence as a tool must be optimized under the observation of humans rather than fully automating it. The perils of doing so can also be witnessed in the ongoing war where automated drones with missiles miss targets and claim innocent lives, something that the creators of AI did not anticipate when developing it. If investors have to rely on a trading system that is reliable and something they can bank on, it is too early to trust AI, Dutta suggests.