Anyone using AI For Their Investing?

[james.hendrickson]

All,

I'm not huge on trading, but I'd be curious to know if any of you are using AI for your trading or investing activity?

I saw this site => https://www.trade-ideas.com/. Evidently it uses AI in a trading capacity.

While this particular website doesn't look that valuable/convincing, it does raise the broader question - can one use AI to improve your investing methods or profits?

Wondering if anyone has thought this through.

[disneysteve]

I avoid AI at all costs in any possible application.

[james.hendrickson]

Disneysteve, I hear you - and its superior at summarizing and reporting information, as well as implementing rules based systems.

Its having a transformational effect on coders and content creators.

[disneysteve]

its superior at summarizing and reporting information

I have yet to encounter any evidence of that being true.

[ua_guy]

No, not using it to invest. Yet?

AI is one of those things...need to be careful about buying my head in the sand. I feel it could eclipse my generation the same way "computers" mostly eclipsed my parents' generation (boomers). For the most part, Boomers, most of them only interfaced with computers when they had to, maybe for work, and so many of them are so behind on technology and how to interface with anything electronic--still!. So I try to keep up on AI, try it here and there. I feel like it's still really early for AI, and its use in my life is very little, anecdotal. I'm not ready to start having it manage my money, and maybe I never will be.

If it takes all the guesswork and risk out of the market, isn't the game, "the market" kind of done, at that point? The market will be a bunch of AI bots duking it out in connected spaces.

[disneysteve]

No, not using it to invest. Yet?

AI is one of those things...need to be careful about buying my head in the sand. I feel it could eclipse my generation the same way "computers" mostly eclipsed my parents' generation (boomers). For the most part, Boomers, most of them only interfaced with computers when they had to, maybe for work, and so many of them are so behind on technology and how to interface with anything electronic--still!. So I try to keep up on AI, try it here and there. I feel like it's still really early for AI, and its use in my life is very little, anecdotal. I'm not ready to start having it manage my money, and maybe I never will be.

Despite being a Boomer, I consider myself pretty tech savvy. That said, I just have yet to see any useful application for AI. ebay added AI functionality a while ago and it is simply dreadful. You can have it write your item descriptions and they are total crap. Then they added AI photo backgrounds which are horrible. I refuse to purchase anything from any seller who uses either of the AI functions.

Google and Facebook and other sites have AI summary options and they simply aren't that good. When I do a Google search, I skip right past the AI down to the actual search results. One Facebook group I'm in had activated the AI summaries for a while and then turned them off because they were so bad.

I have no doubt that AI will someday have important applications. Maybe it already does in certain areas. I just haven't encountered them yet.

[kork13]

I avoid AI at all costs in any possible application.

Yeah, this is mostly me as well.

The only way I've used it is to create images. I'm not an artistically creative sort, so I've thrown elements of a design I'm envisioning at an AI generator to see what it throws out. Some trash, some decent stuff. It really depends alot, and anything AI does for you needs to have a healthy critical eye applied.

I don't trust AI systems to produce anything of quality. Zero chance I'd trust it with control of my investments. I'd even be wary of using it to lead me toward investment opportunities, for fear of being influenced in some erroneous direction by AI-fueled confirmation bias.

[disneysteve]

anything AI does for you needs to have a healthy critical eye applied.

Exactly, at which point it would often have been faster to do it myself. There are eBay sellers who say they use the AI description but then edit out the nonsense and erroneous stuff and add in the stuff that’s missing. Why bother? Writing the description is one of the quickest and easiest parts of selling. If I have to go in and correct the AI errors it will actually take me more time.

[ua_guy]

Despite being a Boomer, I consider myself pretty tech savvy. That said, I just have yet to see any useful application for AI. ebay added AI functionality a while ago and it is simply dreadful. You can have it write your item descriptions and they are total crap. Then they added AI photo backgrounds which are horrible. I refuse to purchase anything from any seller who uses either of the AI functions.

Google and Facebook and other sites have AI summary options and they simply aren't that good. When I do a Google search, I skip right past the AI down to the actual search results. One Facebook group I'm in had activated the AI summaries for a while and then turned them off because they were so bad.

I have no doubt that AI will someday have important applications. Maybe it already does in certain areas. I just haven't encountered them yet.

Healthcare is making good use of AI in both the clinical and business spaces. Lots of rule-based AI and predictive modeling going on, and it's producing a lot of value. Everything it produces gets reviewed before going out, but, it's already saving a lot of human time and automating a lot of processes.

[kork13]

Healthcare is making good use of AI in both the clinical and business spaces. Lots of rule-based AI and predictive modeling going on, and it's producing a lot of value. Everything it produces gets reviewed before going out, but, it's already saving a lot of human time and automating a lot of processes.

I've read that in many studies, AI systems have been consistently more accurate than experienced radiologists in identifying certain stuff on diagnostic imaging. So I totally believe that in specialized applications (with specialized "training"), AI systems can be very effective. But the generic language models or other stuff that's generally available .... It's pretty poor quality still.

[disneysteve]

I've read that in many studies, AI systems have been consistently more accurate than experienced radiologists in identifying certain stuff on diagnostic imaging. So I totally believe that in specialized applications (with specialized "training"), AI systems can be very effective. But the generic language models or other stuff that's generally available .... It's pretty poor quality still.

I’ve heard about some of the imaging stuff too so maybe that is a spot where it’s already being useful. But I can tell you that toward the end of my work time they introduced an AI program that could listen to us in the exam room and write our notes for us. I never tried it but the people who did said it just slowed them down because then they had to take time to review and correct what it had written. It was faster and more accurate to just do it themselves.

[ua_guy]

I’ve heard about some of the imaging stuff too so maybe that is a spot where it’s already being useful. But I can tell you that toward the end of my work time they introduced an AI program that could listen to us in the exam room and write our notes for us. I never tried it but the people who did said it just slowed them down because then they had to take time to review and correct what it had written. It was faster and more accurate to just do it themselves.

On the business side, AI is doing stuff like gathering and assembling medical record information for different kind of denials and additional documentation requests from insurance payers. It can also predict the likelihood of payment for certain types of denials based on past experience, and prioritize those to be worked. It can assemble an appeal. It can interface with other automation, like navigate an insurance payer's phone tree based on a specific issue, and wait on hold, and then summon a human when it gets to a live rep on the phone. AI can generate and send a coding query to a doctor. This saves a LOT of time and frees up human capital in already lean staffing environments. Some of the clinical uses have been mentioned, like AI transcription. It's getting a lot better, and still has quite a ways to go before it's highly reliable.

The predictive modeling stuff goes deep and gets heavy into statistics really fast. But it's interesting to learn what information it uses, how it assigns weights to particular variables. Statistics isn't my career nor is it an area of real passion...lol

[myrdale]

The term AI gets thrown around to cover a bunch of different applications.

Ordering at Taco Bell, AI takes your order. But really that isn't much more than voice recognition.

There is AI making art work, music, text. But really it is just copying other sources and building on them.

There is AI reviewing X-Rays and CT scans.

So much of the world is run on apparent chaos. We can make modes to simulate what will happen, but any projections fall apart after a few interactions. Things are connected in ways we can never understand. The price of eggs in China may very well be tied to how your retirement fund performs. I'm not convinced we will ever be able to connect all the dots.

[Randomsaver]

I would love for brokerages to provide AI to their systems for the benefit of it's clients. After all, it is in their best interest as they earn a percentage of that profit. Stuff like identifying value securities and then automating buys for products that dropped 10%/15%/20% as per set-up and sell at some set-up as well. It's basically coding the formulas and patterns instead of us doing them and then making the manual transactions when they fit the ranges and patterns. That "identification" and "automated transaction" of identified securities would be the key AI.

[disneysteve]

I only use AI to solve my son maths question. haha

As long as you and your son understand that the AI-provided answers may or may not be correct, have fun with that.

I see a lot of posts in my reselling groups from people using AI to answer questions except the answers they're getting aren't correct. You need to do your own research and not depend on AI-generated content. That just pulls in info from anywhere on the internet but with no actual intelligence behind it verifying its accuracy.