The advent of ChatGPT, which burst onto the scene at lightning speed, has pushed artificial intelligence to the front of just about every sector.
That includes the complex world of financial services.
While hedge funds have long used AI alongside star portfolio managers and quantitative analysts, the latest developments are leaps ahead, presenting new opportunities across financial services.
"From algorithmic trading to transaction cost analysis, fixed income trading desks have historically adopted equities innovation. However, with AI, we could very well be on the cusp of a paradigm shift," said VoxSmart's Oliver Blower, who previously worked on Merrill Lynch and Barclays' trading desks.
Some 65% of executives said generative AI will have a big impact on their organisation in the next three to five years, and 77% said it would have a larger impact on society than any other emerging technology during that time, according to audit and consulting firm KPMG.
Financial News is tracking how AI is reshaping the City — from investment banking and hedge funds to asset management and even professional services fields like law. Here are just a few of our top stories so far:
Meet the hedge fund with no portfolio managers
Man Group CTO: ‘AI may build its own successor’ but beware ‘hallucination’
Schroders CEO urges staff to embrace AI to innovate
Citigroup CEO Jane Fraser lays out AI plans
HSBC names Achtner to head up new AI push
Man Group develops ‘ManGPT’ to leverage artificial intelligence
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ChatGPT hype fuels flows into AI funds with biggest lift for Europe-based products
Bank executives: Here’s why you should care about AI
Deutsche Bank eyes ‘game-changer’ AI in dealmaking unit
AI may prove big deal for finance — but don’t hold your breath
How ChatGPT is upending stock markets
PGIM explores using ChatGPT to automate ‘tedious’ work
Nvidia short-sellers bleed $3.6bn in May as AI boom continues
Goldman Sachs CIO: We could adopt generative AI ‘in months’
Why this investment bank is embracing AI and ChatGPT for its dealmakers
‘Digital robots’ could eventually decide legal cases, says top UK judge
Hedge funds are jumping on the ChatGPT bandwagon — here’s what you need to know
To contact the author of this story with feedback or news, email FN Staff
