ChatGPT-powered Wall Street
The benefits and perils of using AI to trade stocks and other financial instruments
ARTIFICIAL intelligence (AI)-powered tools, such as ChatGPT, have the potential to revolutionise the efficiency, effectiveness and speed of the work humans do.
And this is true in financial markets as much as in sectors like healthcare, manufacturing and pretty much every other aspect of our lives.
I have been researching financial markets and algorithmic trading for 14 years. While AI offers lots of benefits, the growing use of these technologies in financial markets also points to potential perils. A look at Wall Street’s past efforts to speed up trading by embracing computers and AI offers important lessons on the implications of using them for decision-making.
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