Ep. 909: Don’t Believe the AI Hype with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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AI and the Future of Finance
It is possible to use sophisticated techniques to reduce the effect of randomness in finance, but it makes it challenging to apply machine learning. While it's unlikely that AI will create new scalable sources of returns, it is proving useful in where mundane tasks are concerned. Once we are through the trough of disillusionment, investment managers will find many places where AI can generate marginal improvements. But they will probably still be cleaning their teeth with an old fashioned toothbrush.
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