Could an AI be your next hedge fund manager? Market intelligence firm Tractica predicts enterprise artificial intelligence revenue to hit US$11B in 2024, driven by applications for financial services, manufacturing, retail, and oil and gas.
“Tractica forecasts that annual revenue for enterprise applications of AI will increase from $202.5 million worldwide in 2015 to $11.1 billion in 2024, representing a compound annual growth rate (CAGR) of 56.1%.”
One of the biggest hurdles each industry must jump, Tractica notes, is the collection of clean, valid, accurate data.
“Although some data, such as pictures of cats, are freely abundant on the internet, other data is much rarer, which could prove a barrier to adoption for AI systems that need to make decisions based on reliable data.”
We will also need collectively to deal with the legal, ethical, and political ramifications of enterprise AI. To get back to our original question, could an AI legally manage a hedge fund? What happens when competing companies, with competing profit motives, employ the same, or different, AI entities?
More: Tractica.com
