The Compound and Friends cover image

The Compound and Friends

The AI Moment Comes to Wall Street

Nov 3, 2023
Financial expert and AI enthusiast Eric Jackson joins Michael Batnick and Downtown Josh Brown to discuss the market's strong start to November, using AI and machine learning to find alpha, fintech stocks, the court ruling impacting real estate stocks, the potential impact of AI on the financial industry, and the increasing market and demand for Nvidia chips in the AI field
01:32:23

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • AI in the financial industry may lead to job cuts in certain areas but will not completely replace human analysts.
  • Adaptability and continual refinement of AI models are important due to the dynamic nature of markets.

Deep dives

The Use of AI in the Financial Industry

AI is predicted to disrupt the financial industry, potentially leading to job cuts in certain areas such as trade settlement and operations. While AI can assist with analyzing data, it is unlikely to replace human analysts completely. AI models can provide suggestions, but the final decision-making and implementation are still done by humans. The use of AI in investment strategies is still in its early stages, with ongoing improvements and refinements expected in the future. Some areas where AI is being utilized include analyzing technical indicators, tracking app downloads, and monitoring Google trends to uncover potential investment opportunities.

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