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Posted on 29 August 2017

Financial Sector

AI Heads to wall street

Ai Heads to wall street.

For many years, stock brokers have been using tools such as Kalman filtering to predict which stocks are likely to rise and fall. This program-based trading was allegedly responsible for the Black Monday crash of 1987. Perhaps it’s no surprise that many of the financial giants, such as Goldman Sachs, are turning to AI as a fool proof way of protecting themselves and their clients.

Whilst financial institutions have slowly been introducing elements of AI into their operations for a number of years, we could be about to see a torrent of new applications of the technology. whether AI traders will augment or completely replace current traders and fund managers is yet to be seen.
What is very likely is that AI traders will be trained on similar data and therefore are in great danger of making the same decisions simultaneously, which could have disastrous results. In the meantime, the financial sector should certainly be prepared for some major changes.

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