Spencer Reich, partner at Boosted.ai joined us to discuss the role of AI in investing. Spencer mentions that four years ago financial services participants were averse to using AI for their jobs but that is changing. The advent of generative AI has brought users to embrace the technology. Investing is mostly using large amounts of backward-looking data to make forward-looking statements and a machine learning technology that can analyse data real time can give nuanced answers specific to an investing style and mandate. Spencer compares AI in finance to Excel as it allows financial employees to do more with less and present differentiated analysis. Furthermore, Spencer doesn’t think that AI will replace humans at jobs but humans using AI will bring more value than humans that are not using AI.
