Can algorithmic trading systems beat human traders?

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I know of one situation in which the algos that were trading the markets went totally crazy with all sorts of weird data that were confusing the systems. It takes a human being to realize that the reason everything was going crazy was that an earthquake had just hit Japan and the markets were reacting.

In HFT, yes.

In moSt situations, yes.

ETA for AI to do almost everything better than people keeps being downsized.

One day AI will be capable of writing a bestselling novel.

THE BIG QUESTION:

What happened when AI is self aware and googly smarter amd faster than we are?

Right now I can tell my computer I am going to unplug it and sell it for parts and it would not say a word. But what about in 20 years?

Steven Hawking has repeatedly opined that the arrival of self-aware AI (or even just googly snart) could be the end of the human race.