Financial industry fears AI could decimate high-paying positions

At a two-hour hearing in Washington, D.C. on Friday, lawmakers questioned experts on bias in artificial intelligence, the struggle to attract skilled workers, and how to navigate and regulate an increasingly data-driven financial market, Bloomberg reports. Why it matters, per Bloomberg: "The use of algorithms in electronic markets has automated the jobs of tens of thousands of execution traders worldwide, and it's also displaced people who model prices and risk or build investment portfolios," the former head of machine learning at AQR Capital Management LLC Marcos Lopez de Prado said.