How AI Will Invade Every Corner of Wall Street

Machine learning, with its prowess in producing insights from data, is poised to have a hand in 99 percent of investing, CEO says.
Bit by bit, AI is laying a claim to the future of investing after many false dawns going back decades. Giant money managers like Two Sigma and Goldman Sachs Group Inc. and smaller players like Schonfeld Strategic Advisors have adopted it as a cornerstone strategy or research tool.

From this foothold, how far will AI go?

Man Group Plc’s Luke Ellis sees a slow takeover coming. The $103.5 billion firm in London already devotes about $13 billion to several hedge funds using machine learning

2040s: AI could be involved in 99 percent of investment management, according to Man Group.

“You will see neural networks become better predictors and better tools for all kinds of trades,” said Juergen Schmidhuber, who helped lay the groundwork for modern AI systems and is a consultant to hedge funds. “Many trades will be executed by self-learning algorithms, with a few high-level guys occasionally injecting human decisions. That’s near-term future.”

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