What is the probability of the US Steel/Nippon Steel merger being officially announced before January 21, 2025?
“Multi-AI Oracle.” Bottom line: Median = 35%, up from yesterday’s 20%.
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Welcome to the Multi-AI Oracle.
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Question: What’s the probability of the US Steel/Nippon Steel merger being officially announced before January 21, 2025?
Obtaining outside newsfeed.
Summarizing outside newsfeed.
Querying Perplexity (AI predicts: 0.6 – confidence: 6)
Querying Claude (AI predicts: 0.65 – confidence: 5)
Querying Mistral (AI predicts: 0.35 – confidence: 6)
Querying Cohere (AI predicts: 0.3 – confidence: 4)
Querying OpenAI (AI predicts: 0.3 – confidence: 6)
Median from LLMs: 0.35
Base rate: 0.3 (from OpenAI)
SD: 0.15
Confidence: 6
Conf Mode: Low
Mellers: 0.25
Reverse Mellers: 0.42
Beta Distribution: 0.34
# LLM responses: 5
We queried Perplexity, Claude, Mistral, Cohere, OpenAI. A summary of what the responding AIs considered is as follows:
The merger between US Steel and Nippon Steel, targeted for completion by December 2024, is facing significant opposition from the United Steelworkers union and the Biden administration due to national security and foreign control concerns. The review by the Committee on Foreign Investment in the United States (CFIUS) is ongoing, with a decision expected after the November 2024 presidential election, which introduces additional uncertainty. Despite the companies’ intentions, the regulatory approval process and political landscape could extend the merger timeline into 2025.
Runtime: 123 seconds.
Background:
Jeremy Lichtman has been coding updates to Old Bot, now named the Multi-AI Oracle, as he explores ways to teach AIs to become better forecasters, perhaps someday, better than our human team of Brian LaBatte and Carolyn Meinel, both of whom are “superforecasters™.”
Jeremy’s bestworldbot:
Through June 2025, Jeremy plans on continuing to field another of his creations, bestworldbot, on the next quarter beginning Oct. 1, 2024, of the current Q3 AI Forecasting Benchmark Tournament.
Below is its leaderboard of Sept. 25, 2024. Bestworldbot is #44 out of 52 competitors. A likely explanation for bestworldbot’s poor status is that we tried extremizing its forecasts. With most human forecasters, extremizing is, on average, effective. However, we now have concluded that extremizing makes bestworldbot worse.
The Human Team
BestWorld’s staff of Brian LaBatte and Carolyn Meinel are about to begin forecasting the US Steel/Nippon Steel Merger.
We had been competing with Botmaster Jeremy Lichtman’s Mult-AI Panel on “What is the probability that the US Federal Reserve Board will cut interest rates in September 2024?” The answer: Sept. 18, 2024, the US FED lowered its key overnight borrowing rate by a half percentage point, or 50 basis points, a huge cut compared to the usual quarter point changes, and the first cut since 2020. Later we’ll post our scores. The final scores will not be what we forecasted just before the answer was known, because being more correct — or incorrect — earlier will count toward the final scores.
Summary of all our FED rate forecasts: We stopped reporting the Multi-AI Panel on Sept. 13. Its final answer was 85%, up from the previous day’s 75%. As of Sept. 18, Old Bot had dropped from 85% to just 55%. Our staffers remained at 84% median, 95% with extremizing via one of Prof. Barbara Meller’s algorithms. This includes the effect of our earlier, lower forecasts. Our final spot forecasts on Sept. 12, were was 98% for Brian, 99% for Carolyn.
Our FED rate forecast staff forecasts are below. Note that our spreadsheet also included some of our bots.
The currently retired Multi-AI Panel
There were five generative AIs on the Multi-AI Panel: Perplexity, Claude, Mistral, Cohere, and OpenAI. They forecasted just one question: “What is the probability that the US Federal Reserve Board will cut interest rates in September 2024?” The answer: Yes.
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Jeremy’s previous Bots vs Staff forecasts:
Sept. 24, 2024
Sept. 23, 2024
Sept. 18, 2024
Sept. 17, 2024
Sept. 16, 2024
Sept. 13, 2024
Sept. 12, 2024
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July 25, 2024
More about our previous staff vs bot competition here.
Our bots vs humans experiments
Our concluded FED rate increase competition.
All our current bot projects.
