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Programming Collective Intelligence

People have used the phrase collective intelligence for decades, and it has become increasingly popular and more important with the advent of new communications technologies. Although the expression may bring to mind ideas of group consciousness or supernatural phenomena, when technologists use this phrase they usually mean the combining of behavior, preferences, or ideas of a group of people to create novel insights. Collective intelligence was, of course, possible before the Internet. You don’t need the Web to collect data from disparate groups of people, combine it, and analyze it. One of the most basic forms of this is a survey or census. Collecting answers from a large group of people lets you draw statistical conclusions about the group that no individual member would have known by themselves. Building new conclusions from independent contributors is really what collective intelligence is all about. A well-known example is financial markets, where a price is not set by one individual or by a coordinated effort, but by the trading behavior of many independent people all acting in what they believe is their own best interest. Although it seems counterintuitive at first, futures markets, in which many participants trade contracts based on their beliefs about future prices, are considered to be better at predicting prices than experts who independently make projections. This is because these markets combine the knowledge, experience, and insight of thousands of people to create a projection rather than relying on a single person’s persepective.

 

Category
Machine Learning / Artificial Intelligence / Computer Science
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545
Added on
Mar 28, 2014 
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Collective Intelligence
 
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ISBN
978-0-596-52932-1
Format
PDF

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Latest Comments

a / Oct 23, 2014
This book provides one of the best primers on Big Data that I've seen for a general business and...

Asher / Sep 4, 2014
This book skips so many intermediate steps that it is not suitable for beginners.

Asher / Sep 4, 2014
By far the best intro to Java I have ever encountered,this book was all I needed to learn Java....

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