Posted on March 17, 2018 in AI, Blockchain, Fintech In the past five years, the global financial industry has experienced major disruptions thanks to innovative technologies in AI, Machine Learning, and Blockchain. The rate at which supercomputers are taking over the financial sector is leaving no doubt that the future of finance will largely depend on computer scientists and big data experts rather than the traditional financial advisors and traders.
It is no wonder that the world top financial institutions are now hiring more quantitative analysts and computer scientists than the traditional financial analysts and investment advisors. The CFA Institute, the provider of the world most prestigious professional designation for financial analysts, has realized that it is no longer business as usual in the industry and is now including AI, Big Data, and Machine Learning in its Curriculum.
On the other hand, Blockchain, the technology behind cryptocurrencies, is also having its fair share in the industry with analysts predicting that it will do to the financial system what the internet did to the media. Cryptocurrencies as an investment asset have seen explosive popularity since 2016 with Bitcoin the mother of all cryptocurrencies soaring above 1,500% in 2017 before crumbling 63% in the first month of 2018.
Other cryptocurrencies (as of now there are over 2000 of them) are seeing the same level of growth and volatility, creating massive investment opportunity on the one hand and big risk on the other. As the amount of data on these digital currencies continues to pile up, crypto-traders are finding it hard to find investment insights manually.
This has prompted the emergence of AI and Machine Learning driven solutions. The application of computer algorithms driven by AI and Machine Learning to analyze big data and execute stock trades is not something new in the mainstream financial markets. Read more from readwrite.com…
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