AI is coming to Wall Street

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Computers arent new to Wall Street, but for most of their lives, their function has been primarily quantitative. That, says Forbes William Baldwin, is about to change thanks to the rise of artificial intelligence.

Created by a trio of former MBA classmates at at UC Berkeley, EquBot is the answer to its creators dream of producing a computer capable of blending precise financial data with less clear information found in annual reports and news articles.

EquBot has since opened up AI Powered Equity ETF, adding AI Powered International Equity in 2018. According to Forbes, the system absorbs 1.3 million texts a day, including news, blogs, social media and SEC filings. IBMs Watson the AI system that proved artificial intelligence can be trained to recognize relationships and patterns previously thought to be the sole domain of the human mind when it bested two human Jeopardy champions in 2011 then digests the language, picking up facts to feed into a knowledge graph of a million nodes.

While Forbessays its too early to tell whether EquBot will succeed long term, theres no doubt AI is going to change things on Wall Street. Donna Dillenberger, an IBM scientist in Yorktown Heights, New York, is reportedly working on a stock market model with millions of nodes, while IBM is already selling AI up and down Wall Street.

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