Quote:
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.