A company just appointed an algorithm to its board

A Hong Kong VC fund has just appointed an algorithm to its board.

Deep Knowledge Ventures, a firm that focuses on age-related disease drugs and regenerative medicine projects, says the program, called VITAL, can make investment recommendations about life sciences firms by poring over large amounts of data.

Just like other members of the board, the algorithm gets to vote on whether the firm makes an investment in a specific company or not.¬†The program¬†will be the sixth member of DKV’s board.

There is more here, via Gabriel Puliatti.

Comments

Does it get to set executive pay?

Just wait til it has to sign off on audit committee reports.

The elasticity of subsitution between capital and labor is high!

Best Comment of the thread.

Better that than an Al Gore Rhythm.

Does this make one agreemore or disagree more with the statement: Corporations are people?

One of those toy drinking birds would do a good job substituting for a typical democratic politician

It drives you to repetitive drinking? It makes you bend over? You wonder how people can be so fixated by it?

It does the same thing over and over regardless of the results?

Does it get a key to the executive washroom too? How about stock options? And what about voting rights to vote off other members of the board? Now that would be a hoot.

No, it didn't. What the company did was to agree to use an algorithm as a decision aid for certain kinds of decisions, and they quantified exactly how much weight to give the results of the algorithm: the equivalent of one additional vote for the side that agrees with it. Then they proceeded to troll the internet and the news media with a story about how the algorithm is now a "member" of the board, proving once again that there is no such thing as bad publicity.

Wonder if it'll count towards the diversity quota

Is it black or hispanic?

I would say it is female, native, gay, and bodily disabled

perhaps its male, white, gay hating Bible waving fundamentalist

do you have already diversity quotas for bible thumpers in the US?

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