"In an interview with Bloomberg Wealth released on Wednesday, Vlad Tenev reiterated his view that people don't always trade to make money and that there will always be a human aspect to business. "Most of the time you're not doing it just because you want to make money," he said. "You also love trading and you're you're extremely passionate about it." He added: "I don't think there's going to be a future where AI just does all of your thinking, all of your financial planning, all the strategizing for you.""
"On Tuesday, Robinhood announced it was building a social media platform where users can post their trades and track what other investors, including politicians, are buying or selling. Other CEOs are also wary of pronouncing AI the future of trading. Ken Griffin, the founder and CEO of Citadel, said he doesn't think AI will revolutionize the investment business. "Do we use it in our investment business? A little bit, a little bit. I can't say it's been game-changing," Griffin said in a May interview with Stanford Graduate School of Business."
AI is described as a major platform shift that could surpass mobile and cloud technologies, yet it will not fully replace human decision-making in trading. Many people trade for passion as well as profit, so emotional and human factors will persist in financial behavior. AI can assist traders and support broader financial planning, but final strategizing and judgment will remain with humans. Some industry leaders report only limited, non-game-changing AI use in investment businesses. Brokerages are adding social features that let users share and track trades among investors.
Read at Business Insider
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