The beginning of the end for puny fleshy humans is here as an algorithm takes its place among a board of directors.
Hong Kong venture capital firm Deep Knowledge Ventures has appointed VITAL, an algorithm, to its board. It even gets a vote like all the other members.
The program is the sixth member of a board that votes on whether to invest in a specific company or not. The firm focuses on age related disease drugs. The VITAL algorithm was built by UK-based firm Aging Analytics.
VITAL makes its decisions by scanning prospective companies on their financing, previous funding, intellectual property and clinical trials.
So far the algorithm has helped approve two investment decisions but is yet to cast its own vote. "It's not what you’d call AI at this stage, but that is the long-term goal," said Deep Knowledge Venture's Charles Groome. It's certainly a big step in that direction. AI for prime minister by 2020?