How my work in AI put my dad out of a job

Back in 2007, when London was booming as the financial capital of the world, a new field called “algorithmic trading” was emerging. In essence, it is about leveraging Artificial Intelligence to place bets on financials markets faster than any human can. Like most PhD students doing AI, I was working with banks to help them build their trading algorithms, which back then represented about 3% of their activity. Fast forward to 2017, and this type of trading represents over 90% in some cases, almost completely replacing human traders in big banks. One of those victims turned out to be my…

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by Rand Hindi via Endless Supplies .Ca - News