Artificial Intelligence, or AI, has become infinitely more popular since its commercialisation via chatbots in 2021. While a lot of the use of AI was initially superfluous or for recreational activity, its potential in the workplace was growing ever more evident, leading some people to use AI in administrative tasks, creative innovation, writing, and general education. While there have been some patent problems with the use of AI (there was that famous case of a lawyer using AI, only for the technology to completely fabricate previous lawsuits and precedents), there’s no reason to think that AI couldn’t be used to supplement economic productivity.
Investment has also become more popular in recent years, especially pertaining to publicly traded companies. Anyone can be involved, and the rise of personal finance and investment software has rendered it easy for people to do just at the press of a button. AI can be used for pattern recognition in markets, so it is able to learn algorithms to analyse vast amounts of financial data. Being able to recognise patterns could help the investor anticipate and prepare for financial disruptions or trends.
AI can also be used to manage your investment portfolio. This can be especially helpful for those with a wide array of investments. AI can be used to do menial administrative tasks that don’t require much imagination or creative input; however, it can also be used to optimise your investments based on your tolerance, financial goals, and other market conditions.
AI can also be used to evaluate or calculate financial risk. Every investment you make will expose you to a degree of financial risk, so having a program that is able to quantify that risk is a huge convenience for investors, as they might have overlooked certain factors due to human error. It’s also reassuring to know when your own calculations align with an AI’s calculations. AI can also be used to identify unusual patterns that could be indicative of fraud, which is especially important if you’re trying to calculate the amount of risk involved in your investments.
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