How algorithms rule the world

Leo Hickman in The Guardian: “From dating websites and City trading floors, through to online retailing and internet searches (Google’s search algorithm is now a more closely guarded commercial secret than the recipe for Coca-Cola), algorithms are increasingly determining our collective futures. “Bank approvals, store cards, job matches and more all run on similar principles,” says Ball. “The algorithm is the god from the machine powering them all, for good or ill.”…The idea that the world’s financial markets – and, hence, the wellbeing of our pensions, shareholdings, savings etc – are now largely determined by algorithmic vagaries is unsettling enough for some. But, as the NSA revelations exposed, the bigger questions surrounding algorithms centre on governance and privacy. How are they being used to access and interpret “our” data? And by whom?”