Robot financial workers to replace human traders, report says — from innovationnewsdaily.com by Jeremy Hsu

Excerpt:

Human financial traders complicit in precipitating the Great Recession may soon find themselves as unemployable as many others, put out of work by robots as if they were factory workers or stevedores.

Of course, like the human world of high finance, the new world of robot financial trading comes with some risks. Better self-regulation is needed to prevent short-sighted, computer-driven market swings such as the “Flash Crash” of May 6, 2010, that wiped out $800 billion on the U.S. equity market in five minutes, and then recovered most of the loss within 30 minutes. Disturbingly, the report found very few studies that examine how human and robot traders interact with one another.

The evolution of next-generation trading algorithms that can learn and adapt without human involvement may also make their behavior “very difficult to predict or control,” the report says. That unpredictability would extend to world financial markets dominated by such robot traders.

Still, there is one likely upside for any college graduates and job seekers of today and tomorrow — computer programmers who can develop such algorithms will certainly remain in high demand.

 

Addendum on 9-13-11:

Yale pushes online frontier — from Yale Daily News by David Burt, Drew Henderson [originally saw this at Ray Schroeder’s blog]

Excerpt:

Three Yale Summer Session professors taught their course material not only to students in New Haven, but also to their classmates thousands of miles away.

For the first time this summer, Yale Summer Session offered three online courses, two of them for Yale credit, in which students watched recorded lectures and joined live discussion sections with their professors and online classmates via video chat. With “uniformly positive” feedback from students and faculty, the University is now looking to expand this summer’s program for next summer, though Yale Summer Session Dean William Whobrey said there are no plans to use the technology during the academic year.

The Floating University

From their website:

Great Big Ideas delivers the key takeaways of an entire undergraduate education. It’s a survey of twelve major fields delivered by their most important thinkers and practitioners. Each lecture explores the key questions in the field, lays out the methods for answering those inquiries and explains why the field matters. It is an effective introduction to thinking differently, and a primer in the diverse modes of problem solving essential for success in the 21st century.

A wide range of subjects are covered including Psychology, Economics, Biomedical Research, Linguistics, History, Political Philosophy, Globalization, Investing and more. Within each topic, we will discuss the most current, innovative ideas in the field, dissect them, and look at how they impact not only the world-at-large, but our own lives as well. How does Demography predict our planet’s future? How is Linguistics a window to understanding the brain? What are the fundamentals of successful Personal Finance and Investing? Each of these lectures will be presented by top experts from top institutions around the country.

Two example lectures:

 

 

From DSC:
I post this not because I believe they have the world’s best educators — they may or may not.  But rather, I post this to:

  1. Provide a great resource for those who love to learn — i.e. lifelong learners
  2. To show another example of the disruption that technologies / the Internet bring to higher education.  Such technologies bring affordable, new models and  learning opportunities into the higher ed landscape in a big way.

 

Also see:

 

 

 

Stanford University is offering Computer Science courses online, free to anyone — from geekosystem.com by Max Eddy

 

Introduction to databases -- free online course from Stanford for fall 2011

A bold experiment in distributed education, “Introduction to Databases” will be offered free and online to students worldwide during the fall of 2011. Students will have access to lecture videos, receive regular feedback on progress, and receive answers to questions. When you successfully complete this class, you will also receive a statement of accomplishment. Taught by Professor Jennifer Widom, the curriculum draws from Stanford’s popular Introduction to Databases course. A topics list and many of the materials are available here. More information about the Stanford course can be perused here. Details on the public offering will be available by late September. Sign up below to receive additional information about participating in the online version when it becomes available.

Also see the video at:
Introduction to Databases class by Stanford University

 

Machine learning course -- free, online course from Stanford this fall

A bold experiment in distributed education, “Machine Learning” will be offered free and online to students worldwide during the fall of 2011. Students will have access to lecture videos, lecture notes, receive regular feedback on progress, and receive answers to questions. When you successfully complete the class, you will also receive a statement of accomplishment. Taught by Professor Andrew Ng, the curriculum draws from Stanford’s popular Machine Learning course. A syllabus and more information is available here. Sign up below to receive additional information about participating in the online version when it becomes available.

Also see the video at:
Machine Learning: About the class

 

From DSC:
Again, my question is…if these trends continue, what opportunities are presenting themselves? What threats are presenting themselves?  What is our response?  How will colleges/universities differentiate themselves in this developing landscape? If items like the below continue to grow…how do we respond?

 

thegreatcourses.com -- professors

 

Addendum later on 8/29/11:

 

The Digital Revolution and Higher Education — from the Pew Research Center by Kim Parker, Amanda Lenhart, and Kathleen Moore
College Presidents, Public Differ on Value of Online Learning

Excerpt:

This report is based on findings from a pair of Pew Research Center surveys conducted in spring 2011. One is a telephone survey of a nationally representative sample of 2,142 adults ages 18 and older. The other is an online survey, done in association with the Chronicle of Higher Education, among the presidents of 1,055 two-year and four-year private, public, and for-profit colleges and universities.

Here is a summary of key findings…

 

From DSC:
First, [perhaps it’s in the appendices, but] how many of the people out in the public who were surveyed have actually taken an online class? If so, how many classes (each) have they taken and when did they take them? From whom did they take them? My guess is that most of them have never taken a class online.

Secondly, I wonder how many people thought that the telephone was a useful instrument/communication device shortly after it was introduced? Perhaps not too many…but did you use one today? Yesterday? I bet you did. I did…several times; and I bet that the same will be true of online learning (as online learning didn’t really begin to be used until the late 90’s).

The question is not whether online learning will blow away the face-to-face classroom, it’s when this will occur…? There will be many reasons for this, but the key one will be that you are putting up a team of specialists instead of using just one person. If they are reeeeaaaalllyy good (and a rare talent), that person can do the trick for now; but their success/job will continue to be increasingly difficult to perform, as they continue to pick up new hats each year, as the students’ attention spans and expectations continue to change, as lower cost models continue to emerge, etc, etc…

As Christensen, Horn, and Johnson assert, the innovation is taking place in the online learning world, and it will eventually surpass what’s possible (if it hasn’t already) in the face-to-face classrooms.

 

 

From DSC:
Consumers’ expectations from entertainment may likely spill over into education

  • Why the future of TV is all about personalization — from stunmedia.com 
    Excerpt:
    Fueled by the explosive development of smartphones and tablets, video clip viewing routines have [been] forever modified. It’s no surprise that buyers, who have been speedy to embrace video clip providers like HBO GO, Netflix and Hulu, are now expecting a a lot more personalized, interactive and seamless viewing experience across their traditional TV, laptops, gaming consoles, and connected TVs, as well as on smartphones and tablets (emphasis DSC). Here, we’ll discuss the present state of personalised cell video and what customers can anticipate in the future.

From DSC:
In the near future, if I can see what I want on whatever device I want — and it’s personalized/customized for me — won’t that affect my expectations for other types of content that I want to review — such as educational content? 

Yes…I think it will. Whatever discipline I want, on whatever device I want, whenever I want it — available 24x7x365 with online tutoring available (which may or may not be from the same organization that posted the original content).

 

 

The impact of new business models for higher education on student financing

Financing Higher Education in Developing Countries
Think Tank | Bellagio Conference Centre | 8-12 August 2011

Sir John Daniel (Commonwealth of Learning)
&
Stamenka Uvali-Trumbi (UNESCO)

Excerpt:

The aim of this paper has been to suggest that in discussing student financing we need to look beyond the current standard model classroom teaching to the likely developments in learning systems over the next decade. These have the potential to cut costs dramatically and thereby lessen the challenge of student financing.

That is fortunate because nearly one-third of the world’s population (29.3%) is under 15. Today there are 165 million people enrolled in tertiary education.[2] Projections suggest that that participation will peak at 263 million in 2025.[3] Accommodating the additional 98 million students would require more than four major campus universities (30,000 students) to open every week for the next fifteen years unless alternative models emerge. (emphasis DSC)

Also see:

OER for beginners: An introduction to sharing learning resources openly in healthcare education
The Higher Education Academy (HEA) (www.heacademy.ac.uk) and the Joint information Systems Committee (JISC) (www.jisc.ac.uk) are working in partnership to develop the HEFCE-funded Open Educational Resources (OER) programme, supporting UK higher education institutions in sharing their teaching and learning resources freely online across the world.

From Daniel Christian: Fasten your seatbelts! An accelerated ride through some ed-tech landscapes.


From DSC:
Immediately below is a presentation that I did for the Title II Conference at Calvin College back on August 11, 2011
It is aimed at K-12 audiences.


 

Daniel S. Christian presentation -- Fasten your seatbelts! An accelerated ride through some ed-tech landscapes (for a K-12 audience)

 


From DSC:
Immediately below is a presentation that I did today for the Calvin College Fall 2011 Conference.
It is aimed at higher education audiences.


 

 Daniel S. Christian presentation -- Fasten your seatbelts! An accelerated ride through some ed-tech landscapes (for a higher ed audience)

 


Note from DSC:

There is a great deal of overlap here, as many of the same technologies are (or will be) hitting the K-12 and higher ed spaces at the same time. However, there are some differences in the two presentations and what I stressed depended upon my audience.

Pending time, I may put some audio to accompany these presentations so that folks can hear a bit more about what I was trying to relay within these two presentations.


Tagged with:  

Reengineering IT in higher education — from campustechnology.com by John Waters

Excerpt:

Higher ed IT is going the way of the TV repairman, eventually becoming anachronistic maintainers of commodity systems–if university and college technology managers and chief information officers don’t reclaim their rightful place as innovators. So proclaimed William G. “Gerry” McCartney, CIO at Purdue University, who spoke to attendees at the annual Campus Technology 2011 conference last week in Boston. McCarthy said he wants to see nothing less than a new kind of higher ed hybrid, one that transforms colleges and universities into “producers as well as consumers.”

From DSC:
I have  had the perspective for decades now that those organizations who utilize technologies the best will be the winners (sorry for the competitive way of framing this topic, but it’s true).

“Keeping the systems running” in the world of IT is important — but the strategic use of IT has arguably become more important as the Internet, changing landscapes, and budgetary pressures continue to disrupt higher education.

In the 21st century, if you want a successful organization, you must have at least one visionary technologist — who understands your business — on your organization’s decision-making board; if not, good luck to such an organization in the future.  If your organization minimizes and underestimates the power of technology to disrupt your business, things may not turn out too good for your organization in the future.

 Also see:

Intel predicts Smart TV is the device of the future — from nyxiotechnologies.com’s blog
Chipmaker Intel believes that the Smart TV is the electronic device of the future, in the living room anyway.

Excerpt:

The Smart TV is already upon us, in its various forms from various manufacturers. It has arrived with 3D capabilities, web browsing and social networking and applications. Currently Samsung and LG seem to be two of the big players pushing the Smart TV to consumers.

Also see:

 

What the Kindle textbook rental program portends for higher education — from xplana.com by Rob Reynolds

Excerpt:

Almost as soon as the press release hit the Internet yesterday, I began fielding questions about Amazon’s new Kindle textbook rental program. What does this mean for publishers? How will this affect textbook prices? What impact will it have on institutions and their students?

While the general answer to all of these questions is “We don’t know yet,” there are a number of projections I think we can make based on current market trends. Before launching into those projections, however, let’s take a quick look at what the Kindle textbook rental program actually offers.

Borders forced to liquidate, close all stores — from the WSJ by Mike Spector and Jeff Trachtenberg

Also see:

 

From DSC:
Another example — like Blockbuster — of a company who underestimated the disruptive power of technology.

© 2025 | Daniel Christian