According to Bloomberg, hedge fund manager Bridgewater Associates is starting a new Artificial Intelligence unit.
The unit will create trading algorithms that make predictions based on historical data and statistical probabilities, said the person, who asked not to be identified because the information is private. The programs will learn as markets change and adapt to new information, as opposed to those that follow static instructions.
If the AI algorithms they create turn out to be better than investment managers, we can add that to a growing list of careers threatened by increasingly sophisticated learning algorithms.
It’s only a matter of time then that public policy makers will take notice and start looking at the impact of AI on the jobs market. Expect to see algorithms applied in more and more areas of work traditionally seen as requiring human intelligence.