-Caveat Lector- >From BBC News, http://news.bbc.co.uk/hi/english/business/newsid_1481000/1481339.stm - Wednesday, 8 August, 2001, 19:35 GMT 20:35 UK Robots beat humans in trading battle Not bad at trading pork bellies, either In the first ever test of its kind, a team of robots has beaten humans in simulated financial trading. Computer giant IBM pitted robotic trading agents, known as "bots", against humans in trading commodities such as pork bellies and gold. The bots made 7% more cash than the humans, according to a report in New Scientist magazine. Researchers say the successful experiment presages increased use of artificial intelligence in financial markets, where computerised trading already plays an important role. But since none of the humans were investment professionals, traders will argue that it is too early to consider replacing them with machines. Battle of the bots In IBM's test, six bots and six people traded against each other - half were buyers and half sellers. Buyers were given an upper spending limit, while sellers had a minimum sale price. Their goal was to maximise their profit at the end of trading. The situation was designed to mimic the kind of market where buyers and sellers have a fixed amount of time to trade in a single commodity. Although the tasks performed by the bots were extremely simple, Jeffrey Kephart, from IBM's research centre in New York, said that this was the first step to automating many of the basic trading decisions made in financial markets. "We see agents being down there in the frenzy of the trading pit while humans are elevated to a more managerial role," he said. IBM has invested heavily in the development of artificial intelligence. The firm was behind Deep Blue, the chess computer that took on - and beat - grandmaster Gary Kasparov. <A HREF="http://www.ctrl.org/";>www.ctrl.org</A> DECLARATION & DISCLAIMER ========== CTRL is a discussion & informational exchange list. Proselytizing propagandic screeds are unwelcomed. Substance�not soap-boxing�please! These are sordid matters and 'conspiracy theory'�with its many half-truths, mis- directions and outright frauds�is used politically by different groups with major and minor effects spread throughout the spectrum of time and thought. That being said, CTRLgives no endorsement to the validity of posts, and always suggests to readers; be wary of what you read. CTRL gives no credence to Holocaust denial and nazi's need not apply. Let us please be civil and as always, Caveat Lector. ======================================================================== Archives Available at: http://peach.ease.lsoft.com/archives/ctrl.html <A HREF="http://peach.ease.lsoft.com/archives/ctrl.html";>Archives of [EMAIL PROTECTED]</A> http:[EMAIL PROTECTED]/ <A HREF="http:[EMAIL PROTECTED]/";>ctrl</A> ======================================================================== To subscribe to Conspiracy Theory Research List[CTRL] send email: SUBSCRIBE CTRL [to:] [EMAIL PROTECTED] To UNsubscribe to Conspiracy Theory Research List[CTRL] send email: SIGNOFF CTRL [to:] [EMAIL PROTECTED] Om
