Hi There,
Will the machine eventually forecast price moves better than humans?
Yes, according to a venture capitalist.
Listen, industries are filled with the history of engineers and scientists crushing human-oriented business models, said Jeff Tarrant, the founder of Protégé Partners.
Jeff Bezos and Apple disrupted the bookstore and music businesses.
Human-managed hedge funds are likely next to be disrupted by artificial intelligence.
- "Jeff Bezos picked off the bookstore business. Apple totally picked off the music business and Netflix totally changed television. Now [machine learning] is going to pick off the hedge funds," said Jeff Tarrant.
Mr. Tarrant believes that the explosion of data will enable AI machines to become "powerful enough to forecast market moves better than humans," wrote Financial Times.
(Source: FT)
Think about this.
IDC estimates that the amount of digital data will reach 44 zettabytes (or trillions of gigabytes) in this decade. Let's visualize this from a new perspective. If these data fill the entire capacity of iPad Air tablets, the stack would reach from Earth to the moon…
…more than six times over!
Indeed, we are in a golden age of data.
Only artificial intelligence has the capacity to mine through these mountains of data and discover insights that humans may never discover.
Hedge funds are fully aware of this.
Citadel, Six Sigma, Man Group, and Bridgewater Associates are jostling to hire top engineers and scientists in an effort to win the "arms race" of building powerful AI machines. Money is no objection.
What about retail investors?
They are largely limited to reading annual reports, financial statements, earnings transcripts, or news feeds on social media.
In short, retail investors are falling back at an alarming rate.
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