In the past year, the whole society has been worried: artificial intelligence may take away the work of 3 million truck drivers. But it turns out that, at least in the near term, the most direct threat to artificial intelligence is Wall Street traders and hedge fund managers. Today, financial giants such as Goldman Sachs, as well as other large hedge funds, are turning to artificial intelligence-driven systems to anticipate market trends and make better trading decisions. Mark Minevich, a New York-based expert in artificial intelligence technology and a senior adviser to the US Competitiveness Commission (USCC), said that these are happening step by step and will continue for several years; however, an artificial intelligence hurricane will sweep The entire industry. High-income Wall Street traders will be mercilessly abandoned, like workers in the factory that is about to close down, Manavitch said: "It really hits the key to Wall Street and will change New York." Software is always learning Currently, startups such as San Francisco's SenTIent and Hong Kong's Aidyia are building this artificial intelligence trading system. In 2014, Goldman Sachs invested in and began deploying a trading platform driven by artificial intelligence, Kensho. Hedge fund startup Walnut Algorithms studied artificial intelligence technology from the start. Another hedge fund company, Bridgewater Associates, has also formed its own team to create an artificial intelligence system that is self-contained. The project is headed by David Ferrucci, who previously led the development of IBM Watson computers. Artificial intelligence trading software can learn about the world by drawing in large amounts of data, and then forecast stocks, bonds, commodities, and other financial products. Artificial intelligence machines can access books, Twitter messages, news reports, financial data, corporate earnings reports, international monetary policy, and even an overview of the variety show "Saturday Night Live" and other information that helps its software understand global trends. Artificial intelligence can continuously observe this information, from tireless, to learning, and continuously optimize predictions. Hedge fund data services company Eurekahedge tracked 23 hedge funds using artificial intelligence technology and found that artificial intelligence performed better than humans. In the past decade, wide customers (a group of physicists and mathematicians who analyzed financial markets by mathematical models) have been the darling of hedge funds. However, they rely on the analysis of historical data to create a model that predicts market trends. Artificial intelligence can do the same, and it can absorb the latest data to continuously improve its predictive model. In this way, the "wide guest" model is like a static medical textbook, and the artificial intelligence learning machine is like an intern who continues to pursue the latest research. Which one will be better? According to Eurekahedge, traditional models are built on historical data and often do not provide better returns in real time. In the future, human traders and hedge fund managers will no longer have opportunities, in large part because they are human. Babak Hodjat, a joint at SenTIent, which helped Apple develop Siri, said: Humans are often biased and relatively sensitive, whether intentional or unintentional. There is ample evidence that humans are prone to making mistakes. I believe that relying on human intuition and reason is more terrible than relying solely on data and statistics. So, what happens when financial practitioners find themselves standing in front of an artificial intelligence train that is coming? According to a report by business intelligence firm CooliTIon Development, the average annual salary of sales, trading and research staff of the 12 largest investment banks is $500,000, and many traders even reach millions of dollars. Another industry survey showed that in 2015, the salary of five hedge fund managers combined was $1 billion or even higher. If you think that Carl's Jr might replace a fast-food shop worker with a $8 salary with a robot, why not use artificial intelligence to replace these traders who earn millions of dollars a year ($500 an hour)? What? What about traders? Goldman Sachs shows us how automation can be a devastating blow to traders. In 2000, Goldman Sachs had 600 traders in the stock cash trading department in New York. Today, there are only two traders left, and the rest of the work is done by the machine. This is still the case before artificial intelligence hits Goldman Sachs. Kensho CEO Daniel Nadler said: "After ten years, Goldman Sachs employees must be much less than today." In addition to Goldman Sachs, the trading floor of every major financial company will be the same. Many Americans don't sympathize with the people described in the movie "The Wolf of Wall Street," but the new artificial intelligence reality will hit society in many ways. Imagine the impact of artificial intelligence on New York's high-end real estate industry, and think about the "sell" sign hanging on the summer house in Southampton. In the future, can luxury retailers continue to live on the current good days? At that time, Trump may ask some people to get traders back to work because they have moved to Mexico because of unemployment. Even so, Manavitch also saw the positive side: that is, artificial intelligence "drives" these outstanding talents in the financial field to other fields. As a shortcut to achieving millions of annual salary, Wall Street trading and hedge fund management has always attracted a large number of the best talents in the United States. One-third of the top 10 business school graduates in the US have entered the financial sector, and only about 5% have entered the health care market, and fewer have entered energy or manufacturing. As for the number of people entering the non-profit organization each year, it can be counted with two hands (less than 10 people). As for the eliminated traders and hedge fund managers, Manavitch said: "Some people will move to technology startups, or help develop more artificial intelligence platforms, or auto-driving cars, or energy technologies." Because technology companies I’ve been anxious about not having enough high-skilled people, and maybe even because of Trump’s immigration ban. Manakovich also said that if these MBA elites leave Wall Street but do not leave New York, then New York may also compete with Silicon Valley in the technology field. In the future, when mathematics doctors find that hedge funds are no longer coveting them, they may enter weather forecasting or medical fields. For example, the National Security Agency (NSA) posted a job posting on the website, saying it is actively looking for mathematicians to solve some of the smart signal intelligence and information security issues. Perhaps mathematics experts can help them seize terrorists or liberals. The annual salary paid by the National Security Agency to mathematicians is about $100,000, which is a far cry from the salary of hedge fund companies. However, at least traders and wide passengers have room to choose, which is much better than those of truck drivers and other employers threatened by artificial intelligence. Ben Goertzel, chief scientist of artificial intelligence-based hedge fund startup Aidyia, once said that there is another benefit to artificial intelligence machines capturing the financial market: "If we are all dead, the deal will continue." Therefore, if Trump enters the nuclear bomb password and presses the launch button, at least some people's pension accounts will still have a good return. Motion Control Sensor is an original part that converts the change of non-electricity (such as speed, pressure) into electric quantity. According to the converted non-electricity, it can be divided into pressure sensor, speed sensor, temperature sensor, etc. It is a measurement, control instrument and Parts and accessories of equipment. Incremental Rotary Encoder,Incremental Optical Encoder,Incremental Shaft Encoder,Absolute And Incremental Encoder Changchun Guangxing Sensing Technology Co.LTD , https://www.gx-encoder.com