Industry News: Machine Learning and Artificial Intelligence for January 2, 2018
Increasing Automation in Offices Paying Off for Advisory Firms
…ThinkAdvisor. “The main reason, in my opinion, for the automation, is that it costs less, and is faster in terms of being more responsive to the end customers.” The automation may come from the use of artificial intelligence, machine learning or even older forms of technology. “Automation, even without taking artificial intelligence into consideration, provides faster, more accurate information at a significantly lower cost,” Davis said. “I don’t believe there are any drawbacks with respect to back-office operations.” Vasant Dhar, a professor of information systems at New York University, also sees that some back- … 2017-12-27 00:00:00 http://techcenter.thinkadvisor.com/2017/12/27/increasing-automation-in-offices-paying-off-for-ad CloudQuant Thoughts: Automation works. Most people think automation at a “macro” level though. We are thinking about automation in every step of our lives. What can we do to automate our daily tasks without having to think about what can some programmer do for us? Automation tools like Jenkins, Python, even MS Excel Macros that make our professional lives more productive will always help. Yet we also believe that you need to automate based on what is important to you. In 2018 we will be working to systemize our decision making. We want all of us to compound our understanding using a principle-driven approach to decisions to improve our product, our client relationships, and our own lives.Outlook 2018: Alastair Hawker, Quantitative Brokers
…he fact remains that MiFID II has been enormously resource-consuming for the industry on both sides of the Atlantic despite it being an EU regulation. What changes do you expect to see in regards to artificial intelligence in 2018? As a firm, we have spent a lot of time researching and discussing AI/machine learning this year. Undoubtedly, it’s a huge area that will continue to grow and become part of everything in the industry. The next step will be better understanding the applications and limitations of AI/machine learning, and there will be a move away from it being a buzzword to being able to develop true use… 2017-12-29 08:00:35+00:00 https://marketsmedia.com/outlook-2018-alastair-hawker-quantitative-brokers/ CloudQuant Thoughts: This article states that the demand for Quants and Technologists has been “relentless” in FINTECH. We agree. The best sources of candidates for these skills are going to be colleges like the University of Chicago where we get many of our interns. However, that doesn’t mean that you can’t participate. The best people are not the current students. The best people are the subject matter experts that grow their own skills. Pick up your skills. Attend online classes on Python, Math, and AI. Learn how to apply statistics. Many people are using our own platform to grow their quant skills this year. Here are a couple of resources that I have used:- CloudQuant Intro on YouTube: https://www.youtube.com/watch?v=jc4OeMLN6IA&list=PLxZR6_lMNx-ixTK9ISnvhrUiwkvcD0ebI
- Chicago Python Users Group (FinSIG): https://www.meetup.com/_ChiPy_
- Metis Chicago: https://www.thisismetis.com/locations/chicago
- Automate The Boring Stuff with Python: https://www.amazon.com/Automate-Boring-Stuff-Python-Programming/dp/1593275994
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