I am usually skeptical of hot new technological trends. That’s because, many times, I have seen “the next big thing” not work out, or end up having far different effects and outcomes than first touted.
By contrast, AI will be absolutely terrible news for stockbrokers who pitch their high-priced “investments de jour” to their clients. AI will take robo-investing – which has already eaten a lot of the traditional broker’s lunch – to an exponentially higher level. Not only will an AI program be able to buy and sell investments, but it will be able to optimize risk-return levels and even research potential investment methodologies with billions of inputs and parameters within the blink of an eye.
Of course, there could be some hiccups at the start of an AI program’s initial programming. But strategists and the programs themselves will learn. My first job was as a junior analyst. I went through company financial statements with a brand new electric calculator, which would advance the paper feed without me manually pulling a crank. I was actually elated when IBM visited my company a few years later, introducing me to MultiPlan, one of the first spreadsheets. It made my work far more efficient and easier to check. Eventually, I did not even have to manually type in the data thanks to the copy-and-paste function.
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