Major banks throughout the world are replacing humans with AI robots to execute high speed trades and service customers
http://www.trunews.com/article/major-banks-replace-humans-with-ai-for-trading-and-services
(VERO BEACH, FL) During a recent interview with the Financial Times JP Morgan’s head of global equities electronic trading shared that the the world’s biggest investment bank will soon be deploying a "first-of-its-kind AI robot" to conduct high speed trading.
“The AI — known internally as LOXM — has been used in the bank’s European equities algorithms business since the first quarter and will be launched across Asia and the U.S. in the fourth quarter,” Daniel Ciment told the FT.
Mr. Ciment added that the European trials for LOXM have showed that the pricing achieved was “significantly better” than its benchmark. LOXM is a specialized AI system designed solely to execute client orders with maximum speed, at the best price, by using lessons learnt from billions of both real and simulated past trades. The FT explained that the system is powerful enough to tackle problems such as how to best offload big equity stakes without moving market prices.
A member of JP Morgan’s European Equity Quant Research team noted the distinct possibility that this AI system could eventually replace its human counterpart. “Such customization was previously implemented by humans, but now the AI machine is able to do it on a much larger and more efficient scale,” David Fellah told the FT.“The machine is restricted in it’s trading behavior, as it learns under, and operates within, our general electronic trading risk framework, which is overseen by internal control groups and validated by regulators.”
people have been bitching about 'program trading' for the past 40 years.
rest assured that AI will never outperform humans on an individual basis in a market that is constantly changing
>>2924849
Does it hate nigs and jews like Tay? If it doesn't it probably isn't smart enough to make good trades either.
>>2925313
This
>>2925162
Sure thing brainlet. Your ((((job)))) is safe ;) ;)
how much do you want to bet they'll still charge fees as if there were salaried brokers
>>2924849
>switch trading to AI
>it immediately dumps everything and starts buying up all the ETH
hmm what did it mean by this?