Prepare for robot central bankers - Christine Lagard - IMF

Lagarde: Prepare for robot central bankers

 

Christine Lagarde also predicts a day when machines play a much bigger role in running the economy.

She tells the Bank of England conference that artificial intelligence is improving fast. Even the world's best Go players have found themselves outmatched by computers, who could self-learn and develop better strategies.

In a few decades time, we might find that smart machines are helping to run our central banks too.

 

 

Picture: Christine Lagarde - speaking at the Bank's conference                                                                                                 on independence

 

 

Lagarde says:

"Clearly the global economy is vastly more complex than a game of Go. But over the next generation machines will almost certainly play a much larger role in assisting policymakers offering realtime forecasts, spotting bubbles and uncovering complex financial links"

Young economists shouldn't cry into their spreadsheets too much, though. Lagarde says humans will still be needed to run the system.

And she also warns that the public may find it hard to trust computers

Even with the best algorithms and machines, targets will be missed, crises will occur, mistakes will be made. But can machines really be held accountable to the young couple unable to buy a house, to the working mother finding herself unemployed?

Scenario to the future! Time will show!

 

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The Guardian September 29 2017

 

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