Harvard Data Science Review Podcast
From Financial Markets to ChatGPT: A Conversation With Andrew Lo
Feb 23, 2023
42:35
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Quick takeaways
- Data science transformed financial markets through enhanced understanding, computational capabilities, and human behavior.
- Post-pandemic era sees new industry opportunities in technology, electric vehicles, biotech, and fusion energy.
Deep dives
The Historical Use of Data in Financial Markets
Data and data science have been used in financial markets for millennia, dating back to ancient Babylon and Mesopotamian times. Initially, people used various methods like astrology and geometric patterns to forecast market reactions based on recorded prices. Nowadays, three significant changes have enhanced data usage in financial markets: deeper understanding of market mechanisms, advanced computational capabilities, and evolving human behavior. These changes have fundamentally altered how financial markets are navigated.
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