Understanding the Flash Crash: A Case Study in AI Incident Governance

Delve into the intricacies of the infamous 'Flash Crash' of 2010, a financial market collapse attributed to high-frequency trading algorithms. This incident underscores the importance of safe and secure AI, responsible governance, and trustworthy AI management in preventing harm. Learn how the HISPI Project Cerebellum TAIM contributes to incident analysis and mitigation—JOIN US.

Matched TAIM controls

Suggested mapping from embedding similarity (not a formal assessment). Browse all TAIM controls

GOVERN 6.2 — similarity 0.486, rank 1. TAIM detail and related incidents →
MANAGE 4.3 — similarity 0.485, rank 2. TAIM detail and related incidents →
MEASURE 2.6 — similarity 0.467, rank 3. TAIM detail and related incidents →

Source

Data from the AI Incident Database (AIID). Cite this incident: https://incidentdatabase.ai/cite/28

Data source

Incident data is from the AI Incident Database (AIID).

When citing the database as a whole, please use:

McGregor, S. (2021) Preventing Repeated Real World AI Failures by Cataloging Incidents: The AI Incident Database. In Proceedings of the Thirty-Third Annual Conference on Innovative Applications of Artificial Intelligence (IAAI-21). Virtual Conference.

Pre-print on arXiv · Database snapshots & citation guide

We use weekly snapshots of the AIID for stable reference. For the official suggested citation of a specific incident, use the “Cite this incident” link on each incident page.