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artificial intelligence

 Like cryptocurrencies, the financial market has been trying for years to integrate AI. Yesterday, I had a meeting with my broker in London.  we do this twice a year. Especially now that I have a new broker, my old one having retired about 18 months ago. My new broker, is a 37-year-old woman Sandra, who knows more about financial product than I will ever remember. She’s fully aware that I was a strategist in the same company for quarter of a century and so her five brokers, and three strategies signed me down a room and showed me the first results of AI in finance. 

I have to be honest, so far I’m not very impressed. Granted these are early days, and companies can’t afford to make a mistake with AI. Was it quite amusing to force an AI system to sprout pro Nazi sentences, it’s another thing for it to propose an investment in a company that is actually bankrupt.

The key here is for AI to separate the wheat from the Jeff. So far it’s not doing great. It gets the basics right, but that’s not very important. Sure, it can be good at detected, undervalued markets, but again everything has to be checked twice if not, three times. And so far, AI have been spectacular in there, dismal ability to help in for an exchange markets. That’s not me speaking, that’s the traders.

I put this as a question. So far AI have been apparently deployed mostly as a superior tool for companies to manage complaints, or questions from their customers. I saw a report recently. I was rather amusing, that there were a lot of early adopters of AI, but they’re spending on the technology with peanuts. It raises a question, who finances all this. The chips needed to make AI function are some of the most expensive in the world. And you need more than one or two.

so my perception, is that despite all the talk of AI, we’re still far from being in a ready for prime time situation. Very much like bitcoins and their likes, in 2014, they were still a decade away from being semi respectable. I’m still convinced, that bitcoins are a figment of our imagination. But then, to an extent, so is gold.

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