You sometimes hear people say "I mean, we can't just give an AI a bunch of money/important decisions and expect it to do ok" but this is already happening and has been for years. Examples: - Algorithmic trading: I once embedded on an Options trading desk. The head of desk mentioned that he didn't really know what the PnL was during trading hours b/c the swings were so big that only the computer algos knew if the deci…
But none of those things are AI in the same sense that we use the term now, to refer to LLMs.
No, algorithmic trading didn't replace everything a trader did but it most certainly replaced large parts of the workload and made it much faster and horizontally scalable.