World’s Largest Hedge Fund To Replace Managers With AI.
We thought that the industrial revolution will last forever, but AI have made large swarths of redundancy throughout our industrial base. Then it hit the music industry and the vinyl record making factories closed, followed a few years later by the compact disc manufacturers. Now Bridgewater Associates, which manages $160 billion worth of funds, has a team of programmers under its wings called the Systematized Intelligence Lab, working on a project to automate decision making in its hedge fund department. This seems to be another potential venture to replace humans in the financial sector, and the reasons given are to save time and to eliminate human emotional volatility. Looks like not only hedge fund personnel, but personnel specialists too are at risks down the road. Fancy a software programme that hires, evaluates and fires humans. Well, humans are still needed to design softwares! And I do not think these latter jobs will be threatened. So we know which jobs our children should be pursuing in the future. Fascinating!
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