How can AI be utilized to get more profit or produce more in real-world business or daily matters?
In the investment area, it is very generally said that AI could support or be used for Asset Management, Risk Management, Investment Target Selection, Investment Timing Support, Strategy Optimization, etc.
There are several key points to make this general concept realized.
The overall advantage of this AI application may be on Automation.
Automation of collecting market sentiments, analyzing some key indicators and scored sentiments, Selection of investment target regarding some initial and limit conditions, The decision of in and out timing, Execution of investment and monitoring and optimization.
The best AI application is to link and automate all these processes smoothly, checking all between-processes results to adjust for optimization. The promise of AI in investment lies in its ability to process vast amounts of data and identify patterns that human analysts might miss.
It is required to know coding skills, trading knowledge and skill, higher level of data processing capability and logical and strategic problem-solving capability.
The key challenge is to identify which aspects of the trading process can be most effectively enhanced by AI, rather than simply adding AI for the sake of it.
Basically, all this process is already made and utilized widely in the asset market except AI application. We call it a Tradingbot.
I should decide which part will be replaced by AI.
One clear thing is that it is meaningless adding AI into some parts of the whole process. AI should replace existing mature processes one-by-one considering its efficiency and performance.