There has been a lot of discussion regarding the role automation will play in our workforce in the coming years. Much of this talk is focused on how the shift will impact low-skilled workers in areas like manufacturing. However, these jobs are increasingly being joined by other positions like doctors, lawyers, and now, even finance managers.
Ray Dalio is the founder of Bridgewater, the world’s largest and most profitable hedge fund, who just happens to also be working toward completely automating the firm’s management. Software engineers are hard at work developing systems to completely take over the day-to-day decision-making process, including hiring and firing. The software team is referred to as the Systematized Intelligence Lab and are led by David Ferrucci, who also led the development of IBM’s Watson.
The project is based on Dalio’s 123-page public manifesto known as the “Principles.” The manifesto culminates into what the Wall Street Journal describes as an “unorthodox management approach” involving “radical openness” that encourages employees to rate each other, openly disagree and criticize, and where honesty is a top priority.