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Quote by Kevin L. Michel

“At the center of this reaction is a region of the brain called the amygdala, our internal alarm system. When faced with the unknown, the amygdala triggers stress hormones like adrenaline and cortisol - heart pounding, senses on edge, stomach uneasy - great for real danger but breeding anxiety when the ‘threat’ is only abstract.”

Quote by Kevin L. Michel

Book:The Council of Gods
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The Council of Gods

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Kevin L. Michel

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“To the extent that AI mimics human intelligence without being sentient we have to weigh the output against the shortcomings. AI can help to cure certain diseases, but it will also replicate highly dysfunctional behaviors. Developers say they can control for these adverse behaviors. Yet behavioral psychologists themselves don't fully understand them.”

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Book:MoneyGPT: AI and the Threat to the Global Economy
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“... Why do bank runs commence? The answer is psychology period some customers or counterparties come to believe a bank will not repay them so they pull their money out or close transactions as quickly as possible. They are not reassured by ... Press releases or positive comments by management. Word spreads, the withdrawals accelerate, and within days, sometimes hours, the bank closes its doors. From there it's an open issue whether the lost confidence spreads to other banks, in a process called contagion. No amount of capital or comment can stop a bank panic; it has a life of its own.”

PsychologyFinancePanicBanking SystemBanksFinancial RiskFinance Capital
Book:MoneyGPT: AI and the Threat to the Global Economy
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“... why do bank runs commence? The answer is psychology. Some customers or counterparties come to believe a bank will not repay them so they pull their money out or close transactions as quickly as possible. They are not reassured by ... press releases or positive comments by management. Word spreads, the withdrawals accelerate, and within days, sometimes hours, the bank closes its doors. From there it's an open issue whether the lost confidence spreads to other banks, in a process called contagion. No amount of capital or comment can stop a bank panic; it has a life of its own.”

PsychologyFinancePanicBanking SystemBanksFinancial RiskFinance Capital
Book:MoneyGPT: AI and the Threat to the Global Economy
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“If insolvency is not transparent or well understood, and if illiquidity is backstopped by the Federal Reserve, then why do bank runs commence? The answer is psychology. Some customers or counterparties come to believe a bank will not repay them so they pull their money out or close transactions as quickly as possible. They are not reassured by ... press releases or positive comments by management. Word spreads, the withdrawals accelerate, and within days, sometimes hours, the bank closes its doors. From there it's an open issue whether the lost confidence spreads to other banks, in a process called contagion. No amount of capital or comment can stop a bank panic; it has a life of its own. ... Enter AI. The next bank run may be triggered not by human panic but by AI imitating human panic. An AI bank analysis program with deeply layered neural networks and machine learning capability (perhaps complimented by a GPT capacity to speak with human analysts) Could read millions of pages of financial data on thousands of individual banks, far more than any team of human analysts could review. It's training set of materials provides familiarity with the dynamics of bank runs, basically an emerging property of a complex dynamic system, along with historical examples, worst case scenarios, and defensive moves. Events like the gold corner of 1869, the panic of 1907, the Great Depression of the 1930s, and the S&L crisis of the 1980s would all seem as fresh as today's news. This system would reach the same conclusion as a human analyst — move first, get your money out fast, don't be the last in line. The true danger is not that the machine thinks like a human — it's supposed to. The danger is that it can act faster and communicate with other machines.”

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Book:MoneyGPT: AI and the Threat to the Global Economy
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“At the center of this reaction is a region of the brain called the amygdala, our internal alarm system. When faced with the unknown, the amygdala triggers stress hormones like adrenaline and cortisol—heart pounding, senses on edge, stomach uneasy, mom's spaghetti—great for real danger but breeding anxiety when the ‘threat’ is only abstract.”

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Book:The Council of Gods
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