Your link is from 2013. You're intentionally using the term "Agent" to muddy the waters. Don't do that.
replyEdited for clarity, thank you. I wasn't trying to muddy the waters (doesn't mean I didn't), it's a term I've used for a long time. I did mistakenly think the quotes would help disambiguate. I don't know what Knight called them; the first S in "SMARS" is Smart.
replyThis confused me at first, so adding a tiny bit of context: The agents referred to here have nothing to do with AI Agents, and the linked report is from 2013.
replyNot directly relevant to the post being discussed, except as an example of how runaway automation can lead to unintended and large harmful consequences.
Thanks for the feedback, I have edited to not confuse.
replyI considered it relevant as it involves the algorithmic/computing implosion of a 17-year-old market making company, in the young field of electronic trading agents, with heavy regulation Federally (SEC) and industry self-regulation (FINRA), which includes compliance and audits. Mandatory pre-trade rules such as 15(c)3-5 were less than 5 years old then and even more regulation came out of that incident.
The article is calling for embedding, controls, and regulation in LLMs. Understanding how the same processes utterly failed a decade ago might be useful in understanding how to proceed.
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