Now what’s an Algorithm?
Informatics and matemathics are the only two groups where an algorithm is used as a “problem solver” tool. Where they discover how they will be able to solve one or more problems, with the help of the algorithm.
An algorithm effects you in your everyday life, weather you like it or not. It decides on what type advertisement or/and articles that will pop up on your newsfeed on Facebook and other social media platforms.
If you’re curious on how an alogithm looks like, here’s the algorithm EdgeRank, which is used by Facebook –> https://pin.it/36xfygajypi4xy
Here’s another example on how algorithm works – If you walk into a bank, or going on to their website and want to get a mortgage. It will only be a couple of seconds before they get back to you, to let you know if you’re a candidate or not. In these few seconds the algorithm has already looked into your payment history, how much money you make in a year and if you’re capable to pay in time.
And this is only one way how we can see that humans will be replaced by machines and algorithms in the future. Because back in the days, people walked around to find papers on all your personal details to let you know if you could get a mortgage. And I can only imagine that that took more than just a few seconds.
Krokan, Arne. 2013. Nettverksøkonomi: digitale tjenester og sosiale mediers økonomi. Oslo: Cappelen Damm.