Institutional Traders Shifting Attention from Blockchain to AI

More than half of the institutional traders surveyed by global financial services giant JP Morgan said that artificial intelligence and machine learning will be the most influential technology in shaping the future of trading over the next three years--cited four times more often than blockchain and distributed ledger technology. JP Morgan's e-Trading Edit report is now in its seventh year, the latest report drawn from a January survey of 835 institutional traders in 60 global markets. The annual assessment of trader sentiment spans several asset classes and is intended to reveal "upcoming trends and the most hotly debated topics." The tumultuous bear market in crypto--coupled with the recent consumer and commercial hype over accessible AI technology like ChatGPT--seems to have shifted the outlook of financial industry professionals. Last year, blockchain and distributed ledger technology tied for second with AI and machine learning with 25 percent of respondents declaring them key to the future.