Leverage An AI Trading Assistant: Part 1
How Are Businesses Leveraging Machine Learning?
AI, we’ve all heard the term by now, unless you’ve been hiding behind a rock for the past decade. Not only has artificial intelligence(AI) entered into the average tech connoisseur’s vocabulary, but it has become a buzzword that many people use to sound very knowledgeable in different domains. The interesting thing about AI is how it’s now considered electricity for the future. By virtue of AI’s exponential growth over the past several decades, many different industries realize its potential in generating revenue when making business decisions.
My interests particularly lie in how AI will influence the Healthcare, Finance, and Cybersecurity sectors for the general public. Furthermore, in this article, I’m going to discuss what the AI finance industry entails and what companies are doing in the industry. Then I will explain how an average housewife can bring more money to the dinner table without stepping outside her home.
The Truth About Finance
In the AI finance industry consumers experience issues concerning credit decisions, fraud protection, and making prudent trading investments. Now is the time to start implementing machine learning algorithms into daily decisions due to the thousands of uninformed decisions people make daily with their finances.
For example, everyday people invest in the stock market after doing minimal research and believe deep down that they’re going to see big returns when, in reality, they suffer a loss. This is by virtue of insufficient data collected from the investor.
From an economic perspective, the economist asserts that the United States is overdue for another stock market crash, but there’s no guarantee who really knows what it will happen tomorrow. Then there are politicians that promote the notion of a stock market crash if they lose their campaign because they’re more informed about what’s going on in the market than the general public.
As a society, the media does not quite understand what artificial intelligence can do other than taking over the world by gaining superiority. Many people lack knowledge especially in the finance space, leading to inadequate financial autonomy.
The good news is that companies have realized this gap in the American public and are trying to not only help the American people but help themselves. Companies like ZestFinance and DataRobot who specialize in credit decisions for lenders. Or companies like ShapeSecurity and DarkTrace, who focus on cybersecurity and fraud detection. Furthermore, there are companies diving into personalized banking software: Trim AI.
Conclusion
To conclude, all of these corporations are doing remarkable things in the industry; however, very few of them help the average nine to five hard-working citizens make investments with cutting edge technology. This problem needs to be addressed because of the millions of people lose money investing every year and what about the people who don’t invest because they don’t know how or are too scared to experience a negative return.
Solution
My solution: an artificial intelligence trading bot assistant. Not only do humans today need an assistant that experiences a limited error in order to obtain and sustain success in the world of finance, but we need explanations for the decisions. The machine learning algorithms written for this assistant would return a small margin of error, beating any stockbroker or day trader in their prime and explaining why. This artificial agent would observe all the markets and invest in the most profitable ETC from any company of choice by scraping data from media platforms on the internet.
The notion that AI will obtain ubiquity in everyone’s lives in the future is inevitable; hence, why not make the most of it and use it as a tool rather than an undesirable job taking machine?
