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Ep. 235: Christian Schwarz on AI Bubbles, Using AI in Trading and Synthetic Data
Sep 27, 2024
Christian Schwarz, Managing Director and Head of Data Science at Standard Chartered, shares his insights on AI's impact in finance. He questions whether we are in an AI bubble and discusses why credit markets are slower to adopt AI technologies. The conversation also covers the innovative use of generative AI to create synthetic data, enhancing trading strategies while addressing privacy concerns. Schwarz highlights the need for adaptive models and the benefits of long short-term memory (LSTM) models in the fast-evolving financial landscape.
42:12
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Quick takeaways
- Christian Schwarz highlights the potential of synthetic data generated by AI to enhance trading strategies and overcome data scarcity in credit markets.
- He stresses the importance of collaboration between data scientists and traders in finance to effectively integrate AI and improve decision-making processes.
Deep dives
Christian Schwartz's Career Journey
Christian Schwartz shares his background in financial mathematics, detailing how his academic focus on statistics and stochastic processes led to a career in finance. He wrote his diploma thesis on credit portfolio management, which opened doors for him at Credit Suisse in Zurich. His journey took a significant turn during the global financial crisis (GFC), where he adapted by using tools he had developed for portfolio management, which built his credibility on the trading desk. By leveraging game theory, he gained unique insights into the sovereign crisis that allowed him to engage with major hedge funds and expand his understanding of macro markets.
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