Investment Strategies: Unveiling the Power of AI-driven Corrective Methods for Informed Decision Making | Ernest Chan, PredictNow.AI

May 11, 2023

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In this episode, we delve into the captivating career path of Ernest Chan, the Founder, and CEO of PredictNow.AI. Despite starting with a degree in physics, Chan has made a name for himself in the world of finance and machine learning. With experience from working at IBM Research in natural language processing, machine learning, and speech recognition, to developing groundbreaking methods to compare identities without an exact match while working in an internal consulting unit at Morgan Stanley, Chan has a wealth of knowledge to share.

We also explore Chan's foray into the hedge fund industry, following in the footsteps of some of his former colleagues who had become billionaires at Renaissance Technologies. After working at Credit Suisse and starting his own startup during the dot-com bubble, Chan eventually found success in the hedge fund industry once again before catching the entrepreneurial bug once more in 2005.

PredictNow.AI believes that the potential of machine learning lies in its ability to correct human decisions rather than make them from scratch, hence the term Corrective AI.

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Founder Bio:

Ernest Chan (Ernie) is the founder and CEO of PredictNow.AI, a machine learning SaaS. He started his career as a machine learning researcher at IBM's T.J. Watson Research Center's Human Language Technologies group, which produced some of the best-known quant fund managers. He later joined Morgan Stanley's Data Mining and Artificial Intelligence group. He is the founder and non-executive chairman of QTS Capital Management, a quantitative CPO/CTA. He obtained his Ph.D. in physics from Cornell University and his B.Sc. in physics from the University of Toronto.

Time Stamps:

01:55 Ernest Chang's early career and Background

04:02 Exploring the intersection of finance and machine learning

06:33 From Morgan Stanley to starting a startup: an early work in the fintech industry

10:09 Challenges of launching a new product in an unprepared market

12:57 Becoming an independent trader and launching a fund

17:33 Using corrective AI to improve investment decisions

20:32 Benefits of AI-augmented investment decision making

23:32 Clustering AI predictive variables for improved decision making

28:07 Leveraging data to build a practical ai system

33:30 Benefits of AI-powered trading with Predictnow.AI

35:00 Benefits of conditional portfolio optimization for institutional investors and Asset managers