Of predictive analytics, god and $$$!
juin 10, 2015 § Poster un commentaire
Nowadays, everybody talks about « Big Data » (http://en.wikipedia.org/wiki/Big_data). « you don’t understand, it’s SOOOO like, the next revolution!!! »
But behind Big data really lies the power of « Predictive Analytics » (http://en.wikipedia.org/wiki/Predictive_analytics). But this algorithmic, statistical power raises the questions of god, religion, and… above all… $$$!
When I refer to god, I mainly refer to the common belief among religious people everything and everyone has a destiny, a fate… « God’s will » if you won’t! It raises an interesting BIG question!
Ok, so I don’t know in what god you believe, but i’m guessing you also believe in the unfortunately too real god $$$! Now the money is built on trust and if you get, as a system or a society, to a pretty good level of predictability… which would mean that there is no improvement of reality possible more than that there already is… so now money loses its value… I mean we’d live in a perfect world where everything is in some way « risk managed »… Because if you have less risk, things should really cost less, as you know the money you ‘re lending will have, say, 80% chance to create wealth in return (and pay back the loan)!
And yet… we’d be left with a non-pefect reality that may have to do with the uncertainty principle (http://en.wikipedia.org/wiki/Uncertainty_principle) or the Butterfly Effect (http://en.wikipedia.org/wiki/Butterfly_effect), and the chaos and all that (http://en.wikipedia.org/wiki/K_Foundation_Burn_a_Million_Quid)…
… So not a perfect situation but money certainly will lose a lot of its value… we could end up with several monetary systems, one for little purchases and another for businesses. But the 2 real questions for me here are these:
– If we now have the power to plan things ahead and « relatively control » the outcomes that we want… If we now almost have the power of a god, that is, to relatively « »predict » » the outcomes of things… then who gets to play Jesus?? The private businesses (or states) that have exclusivity on our data so that they can foresee our future behaviour, hence the business outcomes, hence make more money?? Well that would make a lot of little Je$u$$!!
– If we’re living now in a « MAN THINK, MACHINE MAKE » world and these predictive analytics are actually correct, then what’s left to the « THINK »?? and most importantly, what’s left to the WORK?
And to end on the same note, It’s often said that the inequality gap has never been greater than today (http://en.wikipedia.org/wiki/International_inequality) but that’s maybe partly because our rich world, and the finance world especially, had access to these predictive models of statistics much earlier on (I don’t know when though!) than the rest of us… mortals.