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TOPIC: The New Financial Advisor - AI?

The New Financial Advisor - AI? What effect will IoT have on this advent? 1 year 4 months ago #1

  • FrankN
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Moneyes wrote:
That is a good point Joker. Do you also think this kind of change is dependant on how many people can keep up with it?

That is a good point. As long as people are controlling the AI, I am okay with it.
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The New Financial Advisor - AI? What effect will IoT have on this advent? 1 year 4 months ago #2

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That is a good point Joker. Do you also think this kind of change is dependant on how many people can keep up with it?
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The New Financial Advisor - AI? What effect will IoT have on this advent? 1 year 4 months ago #3

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Now that they have increased IoT modules that connect everything to everything else, AI is just about the only way that we can possibly analyze the massive amounts of data that will be forthcoming from it. Folks, AI is already in the works and it won't be long before we see it every day!
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The New Financial Advisor - AI? 1 year 4 months ago #4

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Yes, let's do see how it plays out FRANKN. I'm not totally opposed to AI and that's probably a good thing since everything seems to be moving in that direction. Currently I do banking online which is really a big step for me. I realize that's not the AI we are talking about but it's a step. LOL!
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The New Financial Advisor - AI? 1 year 4 months ago #5

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Moneyes wrote:
Lexie wrote:
I must be from the old school. I still like to have that warm body sitting across the desk from me talking about how to invest my money. I agree that AI is here and will be a prominent thing of the future. However, I still like that personal touch. :cheerup:

You're sweet. I'm old school as well, but there is precious little about money that is "personal". It is a tool to conduct business with.

That said, I'll use an algorithm based on how correct it has been in the past.

I actually prefer a mix. I am still seeing how the AI plays out.
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The New Financial Advisor - AI? 1 year 5 months ago #6

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Lexie wrote:
I must be from the old school. I still like to have that warm body sitting across the desk from me talking about how to invest my money. I agree that AI is here and will be a prominent thing of the future. However, I still like that personal touch. :cheerup:

You're sweet. I'm old school as well, but there is precious little about money that is "personal". It is a tool to conduct business with.

That said, I'll use an algorithm based on how correct it has been in the past.
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The New Financial Advisor - AI? 1 year 5 months ago #7

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I must be from the old school. I still like to have that warm body sitting across the desk from me talking about how to invest my money. I agree that AI is here and will be a prominent thing of the future. However, I still like that personal touch. :cheerup:
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The New Financial Advisor - AI? 1 year 5 months ago #8

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Joker wrote:
Are there any machine learning algorithms that will help you predict outcomes on stocks that one of us (nerds) could put together themselves? I have been studying these theories and this would be a perfectly practical use for one of them. Since there are so many algorithms currently used in today's data analysis, I was just wondering if you know anything about this stuff.

There are many many machine learning algorithms that are used in the market today. Many hedge funds, large institutions make their financial decisions solely on algorithms.
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The New Financial Advisor - AI? 1 year 5 months ago #9

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Are there any machine learning algorithms that will help you predict outcomes on stocks that one of us (nerds) could put together themselves? I have been studying these theories and this would be a perfectly practical use for one of them. Since there are so many algorithms currently used in today's data analysis, I was just wondering if you know anything about this stuff.
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The New Financial Advisor - AI? 1 year 6 months ago #10

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Pinky wrote:
Gosh, did I just admit to being a nerd?

Yes you did Pinky, welcome to the club. :)

AI, or a variation thereof, has been on trading sites, especially Binary stocks, for quite a few years now. Some people swear by it, others avoid it like the plague. Personal preference.
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The New Financial Advisor - AI? 1 year 6 months ago #11

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There are many companies that provide robo-advisors. You hear about them on television all the time. Some of the best are Charles Schwab, Vanguard, and Fidelity Go. Nerd Wallet has a whole page on the percentages and options for each plan. Gosh, did I just admit to being a nerd?
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The New Financial Advisor - AI? 1 year 6 months ago #12

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Pinky wrote:
I don't know the names but I have been reading about machine learning and how they are making machines that can do the jobs of financial advisors. You can join these companies online and they will help you trade correctly and from statistical data in order to make a profit.
I think it's been around for a while since that's what robo-advisors are about. Do you use a certain investment company for this? I'm interested in keeping my fees as low as possible. So far I've stuck to investing in ETFs.
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The New Financial Advisor - AI? 1 year 6 months ago #13

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I don't know the names but I have been reading about machine learning and how they are making machines that can do the jobs of financial advisors. You can join these companies online and they will help you trade correctly and from statistical data in order to make a profit.
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The New Financial Advisor - AI? 1 year 6 months ago #14

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I was looking around for good investment opportunities when I found an article about Artificial Intelligence (AI). The article suggests that there are three major careers will be affected adversely once true AI has the second generation of intelligence. These careers are finance, medicine, and law. It says that when AI comes to fruition as a second generation work force (the first generation was factory workers), careers like those will become much less lucrative. Understandable considering that humans have to study for many years to become proficient in these careers. Machines, in whatever form they take, will be able to "digest" all those years of information in a matter of hours not years. Not to mention the fact that they can apply the knowledge practically error free. Look our financial advisors, doctors, and lawyers, the future is here to get all your earning potential! Does anyone know what forms of AI
are in place already especially in finance?
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