The latest job sector to be effected by technology is the finance and investing sector. A job that was traditionally done by humans, the field of investing has now been introduced to artificial intelligence. With this introduction, investors may become a thing of the past as clients will now begin getting investing advice from so-called “robo-advisiors”. This, of course, would be groundbreaking but what would this mean for the future of the finance field? Many investors would lose their jobs in the long run as robo-advisors become better and better at giving investing advice through machine learning. This would also lead to clients getting higher quality investing advice for a fraction of the initial price.
Some questions have been raised, however, about the initial effectiveness of robo-advisors. Although investors seem to have straightforward equations that would lead their client to the best possible investing solution, there is actually a lot of emotion that goes into investments. Emotion is obviously something AI is incapable of (for the time being), so this raises questions of will clients actually be getting the best investing advice without the emotional factor playing into the equation. The upside to robo-investors is that investing decisions can be made almost instantaneously. This process is time consuming for humans and robo-advisors could expedite the process. This includes updating a clients portfolio in seconds relative to how the market fluctuates. AI in the investing sector may take some time to perfect, but in the long run, it could change the way way we invest money and will change the entire field of finance forever.
Hackers can trigger major blackouts and nuclear meltdowns
As technology has rapidly evolved over the past 20 years and has changed life as we know it, world governments are the latest to feel the impacts of recently developed technologies. Instead of engaging in physical warfare as countries did many years ago, hackers are now engaging in cyber warfare. Hackers now have the ability to target countries and do things such as wiping out their entire national grids and even cause their nuclear power plants to meltdown. For example, hackers were able to infect Iran’s nuclear power plants with malware that almost led to a meltdown.
This new form of cyberattacks has become a serious issue for foreign leaders, and they are already devising plans to respond to cyberattacks, should it happen to their countries. Great Britain, for example, has already devised a plan to wipe out Moscow’s power grid, should Russia decide to attack them first. There is much speculation, however, about which international laws should apply if cyberattacks were to happen. Because it could take weeks to pinpoint where a cyberattack came from and if a small group of hackers or a whole government committed the cyberattack, international law can be tricky. If a country’s government were responsible for a cyberattack against another country, then that country would have the right to respond and defend themselves. If it came from a small group of hackers, however, the affected country would not be able to defend themselves because another country didn’t attack them.