Eric Falkenstein writes:
In the nineties many 'traders' I knew would simply buy from a customer at the bid, and then sell to another customer at the ask, and go home 'making' $10k a day. They would then get a $500k annual bonus. A college admissions director probably interviews people all day, and writes pages of material supplementing their decisions, but all to trail a simple linear rule. I also worked in an econ department, where we created tons of forecasts with lots of commentary, all dominated by vector autoregressions.
Can an algorithm to replace human bloggers be far off?
Update: That algorithm may be closer than I thought. "Narrative Science Raises $6 Million for Human-Free Stories"