This video, Human in the Loop, explores the concept of human oversight in automated processes. It begins with the historical example of the 1987 stock market crash, illustrating the dangers of relying solely on computer algorithms without human intervention. The video then discusses the evolution of algorithmic trading and the importance of human oversight to prevent similar disasters. It also highlights the broader applications of the Human in the Loop concept in various fields, emphasizing the need for human judgment and adaptability in high-stakes situations.
Contributors: Dave Ingram, FSA, CERA, MAAA; Juan Herrera, FSA, MAAA; Eric Milner, ASA, MAAA; Jon Forster, ASA, MAAA