The recent curbs on social networking websites in India demonstrate the unpredictability of the legal environment, both for businesses and the citizens. Whether its the Government of India’s (GoI) insistence on getting access to corporate emails and text messages sent via BlackBerry devices, or changing stances on “pre-screening” user generated content, the authorities seem to be doing a tap dance around legal issues. The implementation of rules seems surreptitious as they are bent conveniently in the name of “security”.
In yesterday’s New York Times, Ellen Ullman argued that we need artificial intelligence, not more testing, to prevent high-volume trading catastrophes like the one at Knight Capital. But artificially intelligent market watchers are an expensive and possibly unworkable solution. Instead, by collaborating on an open infrastructure for high-volume algorithmic trading, firms could reduce errors, improve stability, and possibly avoid expensive regulation.