Artificial Intelligence instead of thousands of experts
Today’s most advanced technologies offer a wide range of solutions for all kinds of business. The possibilities of innovative approach are proved by all market leaders. While engineers keep on improving the power of AI technologies, machine learning mechanisms are already serving industries in order to increase the effectiveness of all possible processes. How exactly businesses are applying these technologies in their organizations, and what visible benefits are they beginning to get?
The AI was introduced as subject worthy of studying in 1956, though first mentions may be noticed in the works of ancient philosophers going back to 400 B.C., According to it AI can be considered to be somewhere close to the idea that the mind resembles a machine and that it operates on knowledge encoded in some internal language, and that thought can be used to help arrive at the right actions to take. However, the rapid grow of machine learning technologies takes place in the new millennium, which becomes a turning point for all previously used tools and schools of thought.
Market leaders and the newest technological solutions
Artificial Intelligence already affects the world around us. Not all entrepreneurs believe that their business is ready to meet AI. Some of them consider this technology to be too complicated, other consider small business not a proper place for such innovation.
At the same time large companies like Google and Apple invest in research and implementation of AI technologies, hundreds of startups create ready-made solutions for robotics, transport, and media. NVIDIA, famous for designing GPUs for the gaming and professional markets chip units (SoCs) for the mobile computing and automotive market, develops solutions that help machines react to the environment in real time. One of the leading global manufacturer of automation Fanuc is working on a robot training system. Tesla develops infrastructure for autonomous vehicles. Clarifai creates software that automatically searches and organizes visual content.
Apple is widely use AI in its products, which is best seen in the new iPhone 8 and iPhone X with the A11 Bionic chip. A11 includes machine learning mechanisms that allow developers to include AI functions in their applications and easily use them with the help of processing power of the device only.
One of the largest companies specializing in Artificial Intelligence is Google, which is mainly associated with the popular search engine. For many years, its experts have been developing AI, which can be seen now almost in all its products. The company chose AI as the leading technology when Sundar Pichai became CEO. His predecessor, and now Alphabet Chairman Eric Schmidt, recently spoke about the time we live in: "Technology is now on the verge of accepting us into a magical age when machine learning can prevent blindness, translate any language with an expert skill or even destroy endangered species from extinction. Machine science begins to help us solve problems today that we simply can not solve on our own.”
Artificial Intelligence as a financial adviser
Machine learning and AI are one of the main instruments nowadays to process a big amount of data. Technology is growing rapidly transforming every business and every industry. There is no doubt that finance can only profit from AI. The human eye can’t catch or identify some patterns that machine learning and other techniques will easily detect. Machine learning is not something fresh on the stock trading market, but its capabilities were mostly available to large firms.
Mizuho Financial Group will begin to offer trade services based on algorithms for some large institutional clients in Japan and other Asian countries. The product tries to predict how the stock prices in Japan will change within an hour and find the best time to trade. Their platform uses about 5,000 data points, including information on book orders, historical prices and news sentiments for target companies, as well as exchange rates and commodity price changes, to identify anomalies and patterns associated with stock movements. They will allow customers to trade large quantities of shares at the optimal time, reducing costs and reducing market impact.
On the other hand, not only the leading companies on the market can use machine learning technologies for increasing the effectiveness of their trading activity. Mirocana project is an AI solution for any individual traders. It is a multi-layered predicting system for stock, currency and crypto-currency markets, which follows the activity of thousands of professional traders’ funds, fundamentals, chart patterns, price levels, correlations, technical indicators, news and articles, blog posts and even tweets.
The Mirocana system is also capable of calculating the risks based on the chosen amount of annual return. It generates predictions for over 400 companies that are traded on NYSE and NASDAQ stock exchanges. On Currency Market, the system can predict 125 currency pairs that are available with OANDA broker. 90 crypto coins that are traded on the Poloniex, Bitfinex, Bitstamp and many other digital assets exchanges are also possible to be predicted with the help of Mirocana.
The Artificial Intelligence as the way to improve trading efficiency is expected to take more and more of big banks' budget during the coming years, according to Opimas’ report published not so long ago.The importance of using AI in trading is not questioned anymore. Even such giants like JPMorgan hire AI experts to build a global trading hub. Wall Street's biggest banks are turning to Artificial Intelligence to make their giant trading units more efficient.
Algorithms are used in around 75% of global transactions, and the number is expected to grow as the market wants to use AI more and more as a financial instrument.
Artificial Intelligence is turning into a dominant tool for developing financial strategies. The risks are considered difficult to predict because traders and hedge fund managers are not able to compete with self-learning systems, which can handle huge amounts of information and improve their forecasts. Even talented investors on Wall Street do not show constant results, their problem is that they are just ordinary people, while all decisions made by AI are based on an enormous amount of data and statistics.
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