Will AI spark a wave of job losses in banking? This what the experts think

Artificial intelligence (AI) is having a banner 2016. Companies such as Facebook are turning vast amount of data and computing power into AI, Microsoft is experimenting with machine learning chat bots, while one of Google’s AI programs won the complex game of Go against the world’s best player, pulling out moves a human mind could not comprehend. Advances in AI are changing the way people interact with technology across industries. The typically conservative banking and finance sectors seem particularly ripe for some disruption. In January, tech magazine WIRED reported that a Hong Kong-based company, Aidiya, launched a hedge fund that made stock trades in U.S. equities using AI, with no human intervention required. More recently, a technology company, Numerai, which has an artificial intelligence tournament to predict the stock market,…


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