EquBot, which says its funds are the only actively managed ETFs using AI, won’t have this turf to itself for long. IBM is selling AI up and down Wall Street
To accomplish this feat the computer had to grasp not just numbers but genealogical relationships, time, proximity, causality, taxonomy and a lot of other connections.. It might function as a physician’s assistant, as a recommender of products to consumers or as a detector of credit card fraud. Maybe it could manage portfolios.
The trio chipped in savings of their own and $735,000 from angel investors to create EquBot, advisor to exchange-traded funds. IBM,, gave the entrepreneurs a $120,000 credit toward software and hardware bills. Each of those dots to be connected could be a company , a keyword or an economic factor . There are a trillion potential arrows to link them. After trial and error inside a neural network, which mimics the neuronal connections in a brain, the computer weights the few arrows that matter. Thus does the system grope its way toward knowing which ripples in input data are felt a week, a month or a year later, in stock prices.
The computer has its share of duds. It fell in love with NetApp and New Relic, perhaps reacting to a flurry of excitement in cloud computing. The stocks sank. Not to worry, says Khatua. Neural networks learn from mistakes.
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