On the board of directors of an Australian venture capital firm sits a new member: not a stone guest, but one made of silicone, with assorted electrons bouncing from one transistor to another. The Deep Knowledge Venture has crossed the final frontier and appointed an algorithm to the Board.
According to the authors (a British company, Aging Analytics), the program – called Vital – can provide investment recommendations in the life sciences sector (biotechnology and similar) by analyzing vast amounts of data.
The CEO of the Deep Knowledge Venture, Charles Groome, has declared that it is not yet about artificial intelligence, even if that is the ultimate goal. The intention is to develop Vital as an independent decision maker with the right to vote.
It is unclear what fee Vital negotiated for himself. In any case, not everyone agrees. Professor Noel Sharkey, of the University of Sheffield, told the BBC that the idea of rating the algorithm is basically an advertising hype. It would be enough for the algorithm to make a proposal and then the Council votes on it.
