My Sunday essay was a review of Gary Gensler’s admonition that an AI-driven stock market will be a ticking time bomb. Algo-trading isn’t anywhere near new, but it is newly relevant as generative AI and autonomous agents weave themselves into the fabric of our lives.
Many of our financial services clients are working hard to anticipate the impact of AI-based consumer apps that will likely offer better (instantly actionable) financial advice than their human counterparts.
Then, there are those who don’t think wide access to AI systems will have much of an impact on time-tested workflows and processes – especially in regulated industries.
Want an informed opinion? Do a test. Upload an Excel spreadsheet of a year-old mock stock portfolio into ChatGPT’s Code Interpreter, give it your parameters, and ask it to rebalance the portfolio. If you’re a little more tech savvy, add some web scraping to the exercise and ask for some recommendations that respect your investment parameters.
Too complicated? Nope. “There’s an app for that.” In fact, there are many – and there will be many, many more – which is only part of Gensler’s admonition.
Author’s note: This is not a sponsored post. I am the author of this article and it expresses my own opinions. I am not, nor is my company, receiving compensation for it.