Edge:: Reinventing Society In The Wake Of Big Data

Edge.org is one of, if not, THE go-to place for insights from great modern thinkers across a range of subjects. Multi-disciplinary is now, increasingly, the way of things in Academia and in business too. Generalists appear to be in the ascendancy as the limitations of the narrow views of, past, over-specialisation and benefits of recognising the universalities of [non-linear] complex systems have become more apparent through examination using the tools that technological innovation have given us.

I had intended to only include one or two extracts from this conversation but I was so inspired I got carried away! Nevertheless I would urge you to follow the link (below) to read the full text and view the interview. Read more of this post

‘Complexity’ Predicts Nations’ Future Growth – Real Time Economics – WSJ

skd283551sdcAnyone who has read anything I have written or commented upon in relation to the subject of complexity could be forgiven for thinking I view this as a major breakthrough for the cause. Well I do and I don’t!

In some respects it is common sense to say that you must know how to do something before you do it and that the more often you do it the better you get at it. Continually striving, or being driven, for greater efficiencies, exploring new techniques, recruiting/training employees, etc. in an effort to minimise the required inputs or maximise the return on the outputs. Apply it to any business,  at a variety of scales. Such is the fractal self-similarity of complex systems!

It is this very "universality" that confirms the significance of our (Ontonix) model-free solutions. Our technology transcends business sectors and can benefit firms large and small. These are the reasons  WHY we are “fanatical” about spreading the message that measuring complexity brings insight far beyond what even these distinguished Academics appreciate!

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“Physics Envy…” presentation by Prof Andrew Lo: Risk & Uncertainty (in financial systems)

In this entertaining presentation, Andrew Lo poses some very interesting questions and adds further fuel to the argument that a rigorous scientific approach may yet help us undo some of the ills created by man’s feeble attempts to cheat nature – dare I say, man-made complexity!?

Andrew Smithers (Smithers & Co) has drawn his conclusion – below – It wasn’t rotten maths, it was rotten epistemology. But, I’m sure he won’t be offended if I draw and justify my own conclusions as well as adding some further thoughts from Andrew Lo which would appear to support my own position. In fairness to Mr Smithers his commentary is upon the presentation. My own thoughts are more focused on the robustness [RESILIENCE] of the SYSTEM rather than that of individual companies, portfolios or strategies. I am no expert. More of an enthusiastic amateur whose personal pursuit of a means to develop financial products that delivered TRANSPARENCY, SUSTAINABILITY and CUSTOMER VALUE led me to the realisation I would be better equipped for “the journey” armed with an understanding of COMPLEXITY…something that Einstein spoke so passionately about (below). Hence my involvement with Ontonix.

I have also included, below, a link to a superb article from Fund Strategy magazine, “Back to Nature”. In it Andy Haldane (Director of Bank of England), Lo and others recognise that there is much more for economists…all of us…to learn from the study of biological systems.

If you are involved at all in investment, insurance, credit or risk management and have aspirations that you may continue to be so, then you had better make sure you get your head round this message and ensure that your boss (and their boss) understand it…or, at least, give it some thought!

If an eminent Economist and a Physicist, both with in depth knowledge of the financial markets, are warning of the dangers of making key business decisions without a thorough and inter-disciplinary (see below) approach, business leaders need to listen if some businesses – industries – are to have a future.

Will anyone be so bold as to model that!!?

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