Effects of Generative AI - Big And Small?

[wilnj]

Originally Posted by Crowbob

Doesn’t BlackRock already use some kind of algorithm which some think is AI?

In my post above.

Originally Posted by wilnj

This Robot Already Owns Everything (And it's just getting started) : Blackrock Aladdin

Blackrock has a secret weapon that has made it the most powerful company in the world: Aladdin. If you're ever wondered how Artificial Intelligence could impact our lives, here's the answer. Aladdin is the brainchild of Larry Fink, and it already controls more assets than the GDP than the US. It's growing by $1 trillion to $2 trillion new assets in its control each year.

https://youtu.be/AWBRldjVzuM

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[jyl]

Originally Posted by wilnj

In my post above.







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I looked at Aladdin, a few years ago when BLK was rolling it out. It’s not, or wasn’t then, any sort of AI. It was pretty routine portfolio analysis and management software. Maybe it’s changed but a quick look at the website doesn’t suggest that.

The investment industry has been using AI long before OpenAI started working on ChatGPT. Quantitative and algorithmic trading has been huge for a long time. Around two-thirds of stock trading volume is by algos. The big shops have been running big systems of GPUs, basically supercomputers, for at least a decade. Generative AI is a new general purpose tool; the industry has been building and using industrial strength tools.

[mjohnson]

Originally Posted by jyl

...The investment industry has been using AI long before OpenAI started working on ChatGPT. Quantitative and algorithmic trading has been huge for a long time. Around two-thirds of stock trading volume is by algos. The big shops have been running big systems of GPUs, basically supercomputers, for at least a decade...

How times change - what was much of the big computer/big data industry a generation or so ago was weapons-related calcs at the US Nuclear labs. Now just a few recent years ago we were elated simply to be able to grab just a strand of a mega-data pipe between the US and the UK for use between the US and UK design labs. It was mostly built and funded by finance but they charitably (but I'm sure not cheaply) threw us a bone.

Even before any personal knowledge of AI stuff, when we were doing physical and information vulnerability analyses for various "interesting" programs, most of us ended the day wanting to put our tinfoil hats/underwear back on and to move to a cave. Now, from some points of view, the world is much scarier.

[Alan A]

I’d be good with a few teachers having to find pastures new. If AI can help then I’m all for it.