Greetings from NYC. My Sunday essay was a review of Gary Gensler's admonition that an AI-driven stock market will be a ticking time bomb. Algo-trading isn't anywhere near new, but it is newly relevant as generative AI and autonomous agents weave themselves into the fabric of our lives.
Many of our financial services clients are working hard to anticipate the impact of AI-based consumer apps that will likely offer better (instantly actionable) financial advice than their human counterparts.
Then, there are those who don't think wide access to AI systems will have much of an impact on time-tested workflows and processes – especially in regulated industries.
Want an informed opinion? Do a test. Upload an Excel spreadsheet of a year-old mock stock portfolio into ChatGPT's Code Interpreter, give it your parameters, and ask it to rebalance the portfolio. If you're a little more tech savvy, add some web scraping to the exercise and ask for some recommendations that respect your investment parameters.
Too complicated? Nope. "There's an app for that." In fact, there are many – and there will be many, many more – which is only part of Gensler's admonition.
As always your thoughts and comments are both welcome and encouraged. Just reply to this email. -s [email protected]
P.S. Take your productivity to the next level. Sign up for our free online course Generative AI for Execs.
ABOUT SHELLY PALMER
Shelly Palmer is the Professor of Advanced Media in Residence at Syracuse University’s S.I. Newhouse School of Public Communications and CEO of The Palmer Group, a consulting practice that helps Fortune 500 companies with technology, media and marketing. Named LinkedIn’s “Top Voice in Technology,” he covers tech and business for Good Day New York, is a regular commentator on CNN and writes a popular daily business blog. He's a bestselling author, and the creator of the popular, free online course, Generative AI for Execs. Follow @shellypalmer or visit shellypalmer.com.
