Le Figaro : Quand l’intelligence artificielle traque l’homosexualité sur une pho

Quand l’intelligence artificielle traque l’homosexualité sur une photo!

Ils voulaient mettre en garde contre les revers du monde numérique à venir. En devinant l’orientation sexuelle grâce à un logiciel analysant de simples photos du visage, des chercheurs de Stanford ont mis le feu aux poudres.

Dans un monde qui attacherait à l’orientation sexuelle des individus la place qu’elle mérite c’est-à-dire aucune- une telle étude serait inconcevable. Nous ne sommes pas dans un monde parfait. Deux chercheurs de Stanford viennent d’en faire la démonstration en publiant dans le Journal of personality and social psychology les résultats de sept expériences démontrant que «les réseaux neuronaux profonds (deep learning, NDLR) peuvent détecter l’orientation sexuelle à partir des visages». Oh bien sûr les résultats sont loin d’être infaillibles, quoique meilleurs que des évaluateurs humains, mais le fait qu’une telle recherche ait été possible esquisse les potentialités du deep learning, ce système permettant à un ordinateur d’apprendre et d’améliorer ses performances.
35 000 photos analysées

Les deux chercheurs affirment avoir voulu démontrer que: «La digitalisation croissante de nos vies et les progrès rapides de l’intelligence artificielle continuent d’éroder la confidentialité de l’orientation sexuelle et d’autres traits intimes». Ils ont donc utilisé plus de 35 000 photos issues du profil de 14 776 personnes inscrites sur un site de rencontre pour nourrir l’algorithme de reconnaissance faciale des traits féminins et masculins. L’hypothèse «d’atypie de genre», à la base de l’algorithme, étant que les gays ont plus souvent des traits féminins que les hétérosexuels alors que les lesbiennes ont plus souvent des traits masculins que les hétérosexuelles.
Le visage féminin est moins prédictif

Soumis à une paire de photos de visages avec un hétérosexuel et un gay, l’algorithme s’est avéré capable de classer correctement l’orientation sexuelle dans 81% des cas (= il se trompait une fois sur cinq). Un expérimentateur humain y parvenait dans 61% des cas, soit un peu mieux qu’un choix au hasard. Les performances étaient moins bonnes pour les deux avec une paire de photos de visages d’une hétérosexuelle et d’une lesbienne: 71% d’exactitude pour l’algorithme, 54% pour l’humain. Wang et Kosinski nuancent toutefois ces résultats: «Le fait que les visages de gays et de lesbiennes soient, en moyenne de genre atypique, ne signifie pas que tous les gays aient un visage plus féminin que les hétérosexuels, ou qu’il n’y ait pas de gays avec des caractéristiques faciales extrêmement masculines (et inversement pour les lesbiennes)» .
Les justifications de Wang et Kosinski

Ce n’est pas la première fois que l’hypothèse biologique de l’homosexualité est à la base de travaux de recherche sur la morphologie du visage. Elle postule que l’orientation sexuelle serait en partie définie par des différences d’imprégnations hormonales pendant la vie intra-utérine. Attaqué par des associations LGBT après la publication de cette étude d’intelligence artificielle, le Pr Michal Kosinski a souligné au quotidien anglais The Guardian que l’étude venait appuyer la théorie biologique souvent défendue par les milieux LGBT. Il a aussi expliqué avoir utilisé des outils de reconnaissance faciale déjà existants pour démontrer la réalité du danger soulevé par son travail, et s’est refusé à rendre publique l’algorithme utilisé. L’étude de Wang et Kosinski montre au passage qu’un humain est incapable de déterminer l’orientation sexuelle d’un autre humain à partir de simples photos. Mais laisse une question sans réponse: pourquoi vouloir apprendre à un ordinateur à le faire?

>>> US Early premarket gappers

Early premarket gappers
Gapping up:
  • RADA +13.5%, TEVA +7.6%, LAYN +7.1%, CTIC +5.2%, TTD +4%, EYES +3.9%,BVXV +2.6%, PPHM +2.2%, GPRO +2.1%, WDC +1.3%, MU +1.3%, AMD +1.3%,QIWI +1.1%, AAPL +1.1%, JD +0.6%, NVDA +0.5%
Gapping down:
  • SAGE -24.3%, HIIQ -22.3%, LMNR -9.7%, BCRX -8.7%, BIP -4.8%, PTLA -2.6%,FDC -2.1%, MRNS -1.9%, EFX -1.7%, MZOR -1.7%, CPT -1.2%, ADXS -1%

WallStreet Wires :Cobham: What The Brokers Say

In the good old days City analysts used to get decent 6 figure salaries for writing non performance related pieces, largely to get publicity for the companies they work for. These days they have been rendered useless by the internet and now social media. However, the need for publicity remains – hence you see reams of boring commentary copy and pasted on FTSE Alphaville to fill out space, and quoted elsewhere.

From the various brokers below we realise that Cobham has been a total dog for several years, is at the top end of conventional ratings metrics, and that a fresh profits warning could still be on the cards at any moment.

This suggests that the latest speculative rumours surrounding the company here could be a sign of a disposal, or interest from a mystery buyer. But just as easily be a bear ramp – of the kind seen at Carillion or Gemalto. Having read the broker notes one would probably want to err on the side of caution, even though if the rumours here are sound.

WallStreet Wires : Cairn Energy Tops Goldman’s M&A Target List 2017

A 40% Discount



As far as the potential valuation of Cairn Energy is concerned, we are looking at a company where the average analysts valuation of the group is some 40% higher than the present share price.

This is a very unusual state of affairs, especially as analysts looking to keep their (cushy and overpaid) jobs are not known for sticking their necks out. This average price of analysts at 250p approximately suggests that if there was any offer for Cairn it would have to come out as high as 300p.

Added urgency here is provided by the way that Goldman Sachs have Cairn Energy on its M&A target list for 2017, something which by definition only has just over 3 months to pan out.

The company appears fully aware it is vulnerable whilst trading at such a large discount to its notional valuation. We cannot rule out that approaches have already been made.

All of this makes Cairn Energy attractive on a fundamental basis due to it being a more lean and mean business than previously, but also due to the M&A interest stimulated off the back of newly discovered assets. For instance, French giant Total recently acquired significant assets in the North Sea, and is open in terms of being on the acquisition trail in various hot geographies.

ConocoPhilips, the US giant is even closer to Cairn in the sense that the companies share 40% each of the Woodside project, and therefore will be well acquainted with the UK listed group. The question now is which party needs the other most?

Wall Street Wires contacted both ConocoPhilips and Total they declined to comment on M&A speculation.

Cairn Energy also did not return our communication on the same theme.

In addition, there is always the smoking M&A gun in the sector which originates from potential Chinese buyers. This point is brought into focus given Cairn’s joint venture with Petrochina. In fact, it is the way that the group’s JV’s have started to reach significant maturity across the board which highlights this situation currently.

Cairn Energy is a company where there have been recent significant positive changes. So much so that the company is a standout in terms of both valuation and strategic importance within its sector. For instance, the group used to have a massive operation in Indian, which was subsequently sold to Vedanta. Since then a couple of significant finds have been made in Senegal, West Africa, an area of increasing importance to the group’s peers.

A final fundamental kicker is provided by the way Cairn announced a return to profitability driven by the Kraken Field in the North Sea at the end of August – with the swing from loss to profit always a significant moment. This means the clock may already be ticking in terms of M&A activity here.

>>> THE $2.72 MILLION MERCEDES-AMG PROJECT ONE SHOWCAR WILL MAKE YOUR F1 DREAMS

THE $2.72 MILLION MERCEDES-AMG PROJECT ONE SHOWCAR WILL MAKE YOUR F1 DREAMS COME TRUE
Only 275 will be made

Mercedes-Benz finally showed off the Mercedes-AMG Project ONE Showcar at the International Motor Show in Frankfurt today. It’s a wild new hypercar that the company’s been teasing for a few weeks time.
It seems to have been well worth the wait. The Project ONE is everything you’d want from a ludicrous vehicle that sounds like a concept, but will actually be produced and sold. Of course, it has an equally ludicrous €2.275 million ($2.72 million) price tag to match.


It’s not just inspired by Mercedes’ Formula One team, it’s actually built around the 1.6-liter V6 hybrid that Lewis Hamilton is using to lead the 2017 F1 championship. It has more than 1,000 horsepower and a top speed of “beyond” 217 mph, which excites me even if it makes me wonder exactly what Mercedes means by that. The car also has an aerodynamic “shark fin” running down its spine that’s similar to the one being used on the current F1 car, though that’s a more curious choice since the series has banned that piece of tech for next season.
The interior takes cues from the F1 car, too, with the obvious focus being the racing-inspired wheel and seats. But you at least get a few creature comforts that aren’t otherwise found inside Mercedes’ Grand Prix competitor, like two big digital displays, air conditioning, and a dock for your smartphone in the center console.
Other motorsports cues are present here, too. The swoopy Project ONE Showcar has the exotic side profile of a Le Mans prototype racer, and from certain angles, even looks like some of McLaren’s recent track-ready supercars. I think that’s a good thing for Mercedes, which hasn’t experimented with the look of its performance cars in a while. And I’m sure I’m not the only one that is a bit jealous Hamilton got to hop into one already, even if it was probably against a green screen.
But, as if the price weren’t restrictive enough, Mercedes says it’s only going to build 275 of these surreal hypercars. That means the Project ONE Showcars will probably move quickly, and almost exclusively to the kinds of uber-rich enthusiasts who already own the few other hypercars it resembles.

(ZeroHedge) Forget Tulips & Bitcoin - Here's The Real Bubble

While the broader market for Swiss stocks has risen modestly this year, one 'entity' has outperformed its peers by such a staggering margin, it has left bamboozled market experts struggling for an explanation.
And that company is…the Swiss National Bank.
The price of a share in Swiss National Bank in August rose above 3,000 francs ($3,143) for the first time, more than double the level of a year ago, and up 50% since mid-July, as the Financial Times noted in a story about its performance.
Shares of the SNB trade like any other company listed on the Swiss stock exchange, though because of their price liquidity is somewhat thinner. The Swiss cantons together own 45% of the SNB while 15% is owned by cantonal banks and the remaining 40% by private individuals or companies. The Swiss Federal Government owns no shares.
Given the SNB’s holdings – it has demonstrated a voracious appetite for Apple stock and currently holds more than $80 billion in US stocks – the shareholder-backed hedge fund is also having one hell of a year. Perhaps it’s understandable that shareholders see these gains as a driver of value.

And of course, the FT has a few theories about what’s been driving the bank’s astounding gains.
One is that, because of the bank’s stellar P&L, it will almost certainly make a dividend payment this year (it has occasionally failed to do so, like in 2015). Dividend payments are fixed by law at a maximum of 15 Swiss franc per share.
If paid in full, that would amount to a yield of 50 basis points – far superior to the minus 15 basis-point yield on the country’s 10-year bond.
Another is that some German investing newsletter issued what amounts to a “buy” call:


“German investor newsletter Actien Börse encouraged a buying spurt after likening the shares in July to ultra-rare “Blue Mauritius” 19th century postage stamps. Trading in the 100,000 SNB shares is thin, so even modest buying or selling leads to significant price swings.”
Of course, these arguments seem specious: Investors could still probably lock in higher yields by buying Treasurys and hedging their exposure, as one example. And the influence of that newsletter sounds like it’s being overstated.
However, the FT hints at one possible driver that’s probably closer to the truth: Private investors are trying to front-run a possible share buyback by the central bank. As the FT notes, the SNB wouldn’t be the first central bank to buy back its shares.


“Another theory is that investors are speculating they might be bought out. Central bank buybacks have happened before. In the early 2000s, the Basel-based Bank for International Settlements — which acts as a bank to central banks — bought out its private shareholders so it could focus on its public service functions, rather than the interests of financial investors.”
Regardless of their motives, the stock’s gains are almost definitely being driven by private shareholders.As we reported last year during a smaller bout of appreciation in the SNB's stock, it’s unlikely that a canton or a cantonal bank would buy the shares en masse because their ownership has been carved in stone for many years.
And as the FT notes…


Harder to explain, however, is why the price of SNB shares has risen so steeply this summer.

“Institutional investors do not invest in them, so there is no demand for analysis or coverage,” says Andreas Venditti, bank analyst at Vontobel in Zurich. “Since the impact of even small financial market moves on its financials is so huge, it would be difficult to do a reliable earnings estimate.”
The alternative is that a private investor is quietly buying up all the stock available. The single largest private shareholder is a German national called Theo Siegert, a German business leader and professor at Munich University. He owns 6.7% of the Bank, more than any Swiss canton except Bern. Still, if the buyer was Siegert, he would have to file a new report as a large shareholder once he crosses a 10% threshold.
While buybacks are unlikely, and a leveraged buyout of the central bank woud be impossible - though it'd make for an interesting case study - there’s only one probable conclusion left: The SNB is pushing global stock prices up, in the process creating the next bubble. And now private traders are gobbling up shares of the bank itself, adding a dangerous feedback loop to the equation.
The SNB isn’t the only central bank that trades publicly. Both the Bank of Japan and the Bank of Greece are publicly traded, as is the Bank of Belgium; but when it comes to massive wealth-multiplying asset purchases, the BOJ is the real master.
And we all know how that turned out.