Will Artificial Intelligence Revolutionize Trading

We've all heard the news about ChatGPT and the artificial intelligence (AI) revolution that is sweeping the globe.
This begs the question, will AI give us an edge in trading?

It's important to have this question answered by an expert.
If we don't understand the capabilities of AI we will fall prey to snake oil salesmen selling us promises of extraordinary returns if we pay them handsome sums of money for their systems.

I submit to you a conversation with Dr. Ernest Chan. Dr. Chan started his career in AI working on IBM's Watson. He then went on to work for Wall Street billionaires who had teams of Quant PHDs coding deep learning algorithms.

In this short video Dr. Chan shares his wisdom. His conclusion is that AI fails in trading.

"Keys to Success in Algorithmic Trading | Podcast | Dr. E.P. Chan"

No. Because to run it you must be good at questioning (formulation of requests). But the questions 99.99% "traders" from FF will ask AI is what color to choose for EMA200 and where to find profitable signal provider.

Anyone with a brain and some idea of this world, knows that 'the financial markets' are used as a testing ground for many things. People with just "an opinion" really should widen their view on all the real world implications of such an idea as AI. it won't be "given" to "traders" so you can profit. THAT is why you have been "given" your toys eg EA's etc. If people know anything real about Chan and his kind, they work with progressive institutions to further their work. Billionaires don't remain B's by giving to charity, so the true concept of "philanthropist" doesn't apply here. Se what I mean about real world implications?

AI would be merely a tool; any good person will use it very differently to other people with no sense of morality, integrity and conscience. Therefore, in a specific context, the mere idea of AI has ALREADY played a part in revolutionizing people's thinking. How? Forward thinking = The real problems will come later when "people" begin to fight over who gets what share of the spoils. HINT - It won't be the general public. Why? Most people have a very selfish / self centered idea of common sense these days, so your "leaders" and you will fit together nicely..... but you won't bask in the wealth on any level. Of course this could change but then people would need to mature somewhat wouldn't they. So now we're back to square one. Who is mature enough to handle and manage such invention? To the leadership, the general public's role and position on this is a foregone conclusion. If a person always chooses to see things through the lens of a consumer then you'll always be behind the curve.

Therefore AI has nothing to do with coding to trade for profit. I suggest people widen their gaze on REAL real life and stop watching tv and playing on websites.

Peter

i asked the AI to write a law. It took about 15 seconds.

I know the politicians use it, since normally laws can take years or even decades to get through. Now it can happen over a weekend, like it did with Credit Suisse.

This is the most important thing, if the general public takes these laws seriously and the politicians who didn’t even work through them and since then have very poor understanding of their own will and decisions.

How can one take any figure of authority seriously when they don’t even know themselves or for who their actions are for?

To me, it always seems to be that a superficial topic or subject can be tracked back to foundation building elements. And I sense that AI is no exception. The switch over from accountable citizenry to whatever one wishes to call it today, has been coming for decades and going into centuries. So it's been happening at a snail pace, so it's no surprise why "the people" don't see anything wrong with letting the "power structure" AKA their counterparts in Life on this planet, handle the "big stuff". But people do not understand how Life works. The more power and control that's held on one side and left unchecked, creates a schism in several areas of Life. Today's society has examples everywhere. So AI has always been a goal to some, because it offers added promise of "more". "The people" overall, already "believe" they are of lower value than the dust, so it follows that they see nothing unnatural about many things. Politician and laws are, to me anyway, just a result of these deeper things as far as side effects and symptoms avail and present themselves.

Peter

New member here and my first post. My opinion on AI is based on the programming adage of GIGO garbage in garbage out and also imo there is a lot of garbage. I asked a question to chatbotAI which I already guessed what the answer “would be”. My question was “who is Robert (I will redact his last name)” it’s just a guy I went to elementary school some 40 odd years ago. The response was not a list of all possible Robert Jones but rather “there is no way I can possibly know everyone on earth.” So there is a filter there built by someone or group of people. Well who is that group because they are now controlling the output of the AI system for better or for worse. 1st post!

well there is still that 0.01% and viewing what you are capable to do with telegram bots don't want to imagine what you can do with all that stuff

AI has already revolutionized trading. Look at what firms like Bridgewater and AQR have accomplished with AI. I've read some publications from current or former AQR employees and it's incredibly advance what they're doing. They're doing exceptionally well in the markets too.

Check out Advances in Financial Machine Learning by Marcos López de Prado. Even if you don't know the first thing about machine learning it's important to know what you're up against.