Algorithms. They’re used to provide you with a better experience when shopping on Amazon. They recommend new shows on Netflix. Can they be useful in our daily lives? Certainly. But do they know too much about us? A recent CPA Canada article dives into the world of algorithms and weighs the benefits of this not-so-new technology against its privacy concerns.
They have names such as HardBacon, Ambo, Wealthica and Covera. These are among the dozens of startups across the country that are sparking a revolution in the financial technology sector (a.k.a. fintech). Their secret weapon? Algorithms, paired with financial analysis. Their goal? To enable individuals to build stock portfolios on their own or find the insurance policy that best suits their needs. But algorithms are by no means exclusive to the world of finance. They shape vast areas of modern life, influencing our habits and telling us what to read, watch or buy. One thing is for sure, however: while you probably don’t know much about them, they sure know a lot about you.
Read the full article at CPA Canada.