Original article was published by Andrew Warnick on Artificial Intelligence on Medium
As artificial intelligence continues to advance there are an infinite amount of ways humans will begin to use it. One of the industries it is being used is Finance. As discussed in the Medium.com blog post Perspectives on A.I. in Finance by Brian Tatar, finance is “primarily a people run industry that values human input and intuition,”(Tatar, 2020). In this blog Brian makes the claim that we may soon see AI stock brokers instead of human stock brokers.
One benefit discussed is that AI programs can allow greater access to the stock market for people regardless of financial status or investment goals. About 55% of Americans are invested in the stock market, a number that can greatly increase with the use of AI that have the ability to be adjusted to match different people’s needs. Another aspect of AI that Brian touches on is that AI has the ability to learn through use of their own processes. Through the use of a program, the AI is consistently collecting more and more data and information that it can store and locate later in order to make more informed decisions. It could have access to past stock market data and use this data to make educated guesses based off market trends to predict market fluctuation (Tatar, 2020). One important distinction I would like to make is that these would be “guesses” and should be treated as such. I believe these programs are helpful but some amount of human input is still needed in the decision making process, with the amount depending on your investment goals.
I agree with Brian that AI technology in the Finance industry can have a large impact and give more people an opportunity to start investing. There are already programs used today that can help track price changes or even automatically buy or sell stock when the prices reaches a set amount decided by you. That being said, I think more work will have to be done to get to a point where human input is no longer needed. I believe that the integration of AI with humans allows for the greatest amount of success and avoids errors done by machines.