In news more suited to the likes of Amazon, JP Morgan is set to look at customers’ spending histories in order to sell them future products or services.
“AI and machine learning will undoubtedly alter both the headcount and the nature of skills required in the industry. A significant minority of survey respondents fear the effects on the workforce will be negative within the next few years. But wholesale displacement of humans is for the longer term – nearly seven in ten believe AI will bring complete or substantial change to their own jobs over the next 15 years. Even in trading, where automation is already widespread, human roles will remain critical in areas such as algorithm validation and monitoring, as well as compliance. At this point, few believe machine learning models can or should drive financial-market operations completely independently of human control….”
An article I wrote for Financial News about Artificial Intelligence “Meet Cortana, who has the talent to be the best trader in the world… But because her dad is Microsoft and her intelligence is artificial, human traders are not paying attention – but they should…”
I was talking to a bot. And I didn’t realise it. I thought it was a real person. We all experience these defining moments, where there was a “before” and there is an “after”. This was such a moment for me, when I realised that AI has gone very far indeed. Of course, we(…)