NYTimes Article: The Robots are coming for Wall St

Great story from the New York Times on the increasing capabilities provided by smarter software. This is a topic that resonates quite highly with us at QMG and our approach to data analyses. We have built processes and capabilities that allows us to get access to data faster and crunch the numbers and automate our analyses more effectively.

Some of the quotes from this article really hit home for us including:

 Generating a similar query without automation, he said, ‘‘would have taken days, probably 40 man-hours, from people who were making an average of $350,000 to $500,000 a year.

Using software to automate tasks allows us at QMG to provide even more detailed analysis than could ever have occurred when we first started. Looking back at the level of detail and analysis we were capable of producing the shift in capabilities is quite stark, all because of the automation of tasks that free up time for our analysts.

 

“Chavez said Kensho itself was unlikely to displace many employees. The software, he said, was doing something that was previously so time-consuming that it was seldom attempted”

The key advantage of our QMG product is that, whilst some have tried, no one else has put together as comprehensive a system that takes macroeconomic data and turns it into microeconomic insights. QMG has not only attempted this work but puts it in an easy to use application available online.

 

The software Chou designed made it possible for him to dedicate himself to higher-level work, researching new trading strategies for the computers.”

A common fear amongst any worker whose very existence appears to be threatened by smart software however it is often an unwarranted one. The reality is that software is only as good as the code that goes in it and many times that is determined by experts who work in the industry. Using software to speed up manual processes allows for this higher-level work to occur and in the world of investments that extra time can be used to enhance decision making.

 

So are the Robots coming for Wall St? It looks like already have and are here to stay.

 

Have a look at the full article here

 

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