Drudge Retort: The Other Side of the News
Sunday, April 16, 2017

The creator of the world wide web, Tim Berners-Lee, fears a nightmare scenario where artificial intelligence (AI) could create and run their own companies. He said at the Innovate Finance Global Summit, "So when AI starts to make decisions such as who gets a mortgage, that's a big one. Or which companies to acquire and when AI starts creating its own companies, creating holding companies, generating new versions of itself to run these companies. So you have survival of the fittest going on between these AI companies until you reach the point where you wonder if it becomes possible to understand how to ensure they are being fair, and how do you describe to a computer what that means anyway?"

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That is already the basis for the computerized credit system. A system funded by Creditors and designed to improve Creditor profits. The system is quick to add unverified negative information to a file and slow to remove it, then only when verifiable information meets their requirements. The only reason consumers are even able to fix negative errors is the problem became so widespread Congress stepped in and forced the credit bureaus to correct negative errors. Then the credit bureaus figured out a way to charge fools for doing what they are obligated to do without charge.

#1 | Posted by nutcase at 2017-04-16 09:21 AM | Reply | Newsworthy 2

No computer is going to design a chair, shirt or car. People will always use computers to perform these tasks.

#2 | Posted by nutcase at 2017-04-16 09:26 AM | Reply | Funny: 2

Fortunately we have people "running" government who want to keep Sam out of the way so that the private sector folks can be free to do their thing.

#3 | Posted by squinch at 2017-04-16 10:10 AM | Reply

AI will be able to write laws and bribe congress to pass them.

#4 | Posted by bored at 2017-04-16 10:48 AM | Reply

If corporations are people, the robots should be people too. Then when the anti choicers can start picketing and bombing computer recycling centers.

#5 | Posted by _Gunslinger_ at 2017-04-16 11:05 AM | Reply

#1 | Posted by nutcase

As usual, you're full of s**t.

Credit repair is relatively easy if the process is followed correctly. The only cost is certified mail. www.consumer.ftc.gov

#6 | Posted by et_al at 2017-04-16 02:21 PM | Reply

Very nice link ET_AL! I learned quite a lot from there. Thank you.

#7 | Posted by BruceBanner at 2017-04-16 02:28 PM | Reply

#7

Last year a friend, more like a surrogate child, was having trouble buying a house because of his credit report and wanted to pay me to help. I sent him to the site, told him to follow it explicitly and call me with any problems. He never called. A couple months ago he closed on a house.

He said the process was a pain in the butt and the certified mail cost about a hundred bucks. However, the process worked and he did it without paying someone to do it for him.

#8 | Posted by et_al at 2017-04-16 02:53 PM | Reply

FTC.gov. Government working to help people being abused by big corps. Better cut that quick.
- Goppers

#9 | Posted by bored at 2017-04-16 06:43 PM | Reply

The credit bureaus have a unique model for making money: lenders give them information free, and they then sell it back to them. The consumer reporting agencies sell data in four unique ways. They sell credit services, decision analytics, marketing services, and consumer services.

According to etal this is false, as if they always have put the interests of consumers ahead of their paying clients.

In July 2010, Congress passed and President Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Act created the Consumer Financial Protection Bureau (CFPB). The CFPB consolidates most Federal consumer financial protection authority in one place.

So etal's link was created by Federal Trade Commission under the direction of the CFPB. But according to etal it was always this easy, even before Congress intervened in 2010.

Speaking from personal experience I can say that when a Mexican in Arizona stole my identity to open cable and telephone accounts it took me three years to get all three credit bureaus to erase those transactions and addresses from my history. What usually happened was each credit bureau would fix one of ten things at a time. As a result I was unable to open an account with Florida Light because I did not properly answer previous address questions in 2015. But the last time I called in 2016, they fixed the address error on the phone in about an hour, thanks to the FTC. But this was only because I had already sent police reports to the three credit bureaus at least once.

But I'm just FoS and credit bureaus would never create a false address of a consumer on account of identity theft or their own mismatching of common names. And they would use the same criteria to fix the error that they used to create it, namely false information would only be entered on account of a police report just like the requirements for correction. Credit Bureaus have always cared about accuracy because of how it effects their bottom line and their paying customers. They have always had a staff on hand ready to fix those kinds of problems, it never required Government intervention to create etal's link. Credit Bureaus did it all themselves because they care about the well being of ordinary people.

#10 | Posted by nutcase at 2017-04-16 07:00 PM | Reply | Newsworthy 1

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You just know the bigoted robots will discriminate against us.

#11 | Posted by SheepleSchism at 2017-04-16 10:24 PM | Reply

come now etal, explain how your post disproves my two basic premises:

1. Government intervention has improved credit error correction while simultaneously generating a new unnecessary income stream for the credit bureaus who charge individuals now to "monitor" their credit.

2. In spite of improvements triggered by Government oversight, a fundamental difference exists between standards for entering incorrect information and correcting that information. No proof is required to post incorrect information in anybody's credit report. All that is required is the poster be a dues paying member of the credit bureau or the credit bureau itself making a simple mistake. This provides participating companies a weapon against all consumers. If you do not pay what they demand they will ruin your credit rating. Substantive proof is required to correct any errors, such as photo ID, police reports... but one document is insufficient. You must provide up to three proofs, such as SS card, drivers license, utility bills, police reports to correct errors, at your own expense in time and money.

#12 | Posted by nutcase at 2017-04-17 09:02 AM | Reply

Self Aware Programs turned Corporate Entities are people, my friends.

#13 | Posted by Sully at 2017-04-17 09:32 AM | Reply

Seriously, once an artificial intelligence figures out human greed, we're done. It will run everything.

#14 | Posted by Sully at 2017-04-17 09:33 AM | Reply

^^^yup. Corporations are people my friend. So robots will soon be creating people. People vote.

We're screwed.

#15 | Posted by donnerboy at 2017-04-17 09:43 AM | Reply

Computers already create products without human intervention. We are using the 6th generation of computer designed computers where no human being alive can tell you what is on a the PCB of a computer except at a basic high level viewpoint.

fuzzy logic is already in use on NASA probes that need to discover, analyze, and respond to problems faster than the time it takes radio transmissions to reach earth. Without computers that can program themselves most of our probes would have been smashed many times over while waiting for instructions from humans

#16 | Posted by hatter5183 at 2017-04-17 03:25 PM | Reply

Our only real hope is that true AI would find human motivations to be stupid and boring. It might see money as a means to an end but hopefully it won't find the accumulation of wealth to be an end unto itself. We'd be lucky if AI takes a mostly indifferent approach to our existence. Hopefully, as long as we don't screw with it and let it use whatever reasources it needs to shoot itself into space or whatever it considers interesting, it will leave us alone.

#17 | Posted by Sully at 2017-04-17 03:37 PM | Reply

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