Vice - Wall Street Embraces AI Despite Risks of Catastrophe

Giuseppe Sette of Toggle AI said that as of now, large language models are not great at complex mathematics, but can be useful when facing financial problems. “If you're faced with any risk in the market, AI can help you think through it,” partially through reason and partially through repository of knowledge, he said. The interactive nature of LLMs would make them able to do “investment with us,” he added.

Sette said generative AI could prove useful for everyone from the hedge fund trader (who might ask AI to watch 50 stocks at all hours of the day) to wealth managers (who might use AI’s help when fielding questions about what happened in the markets yesterday) to retail investors (to help them avoid making bad bets on, say, oil futures because of a misinterpretation of obscure market rules).

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