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Alternative Market Briefing

A.I. wealth manager bets on investments of the future

Friday, September 07, 2018

amb
Mansi Singhal
B. G., Opalesque Geneva:

It's time for asset managers to think of their firms in terms of technology firms rather than finance firms, according to Mansi Singhal, co-founder and CEO of QPLUM, an artificial intelligence (A.I.) wealth manager based in New Jersey.

"A.I. here is not about finding the next home run, the next big trade. A.I. can be used to reduce costs, to lower key-man risks, and to allow for more focus on having a diverse set of strategies… If you look at what new generation asset managers will look like five or ten years from now, it will look nothing like what we see today."

Now, she continues, we view a typical hedge fund as having a trader, a quant, a research analyst, a Bloomberg or a Reuters screen and lots of excel sheets. But her firm is not like that: it has DevOps (a clipped compound of "development" and "operations") engineers "because we are cloud native, because we need lots of servers to run studies and process, 20 years of historical data and more… You see quants… who are not working on the next indicator but instead on this deep learning framework that extracts indicators for them. We are using A.I. not to predict whether the markets will go down tomorrow but to summarise what the markets are doing today."

This is nothing new: the finance industry is widely expected to fully embrace technology in the near future and it is steadily making its way there. But there are some like QPLUM that have started out as just that: a technol......................

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