24 August 2013

The rise of the machines

So NASDAQ went down for two or three hours, which has led to a fair amount of soul-searching.  The Guardian reports:
The statistics are stunning: about 90% of all the data in the world has been generated in the past two years (a statistic that is holding roughly true even as time passes). There are about 2.7 zettabytes of data in the digital universe, where 1ZB of data is a billion terabytes (a typical computer hard drive these days can hold about 0.5TB, or 500 gigabytes). IBM predicts that will hit 8ZB by 2015. Facebook alone stores and analyses more than 50 petabytes (50,000 TB) of data.
Data is also moving faster than ever before: by last year, between 50% and 70% of all trades on US stock exchanges was being done by machines which could execute a transaction in less than a microsecond (millionth of a second).Internet connectivity is run through fibre optic connections where financial companies will seek to shave five milliseconds from a connection so those nanosecond-scale transactions can be done even more quickly.
Does anybody understand all this?  I guess I hope so ...

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