In Will Technology Outsmart Us I have used a title that also could have been Approaching Singularity using the word popularized by the futurist Ray Kurzweil predicting that if the technology becomes more intelligent it will become self-driven by positive feed back loops.
In his Blog post Approaching the Singularity - in Global Finance Mark Buchanan discusses: that in a smaller scope we may getting close. High frequency trading, where markets are already showing signs of having already made a transition into a machine-dominated phase, where humans have little control.
His post is about the complexity of agents being involved and time available to run certain trading strategies and controls, and the transition from a mixed phase of human-machine interaction to an ultrafast all-machine phase. In short, below, say, a second humans are out.
And what conclusions this has for possible regulations, ...
A great post.