rbc capital market
RBC to Expand AI-Based Trading Platform
RBC Capital Markets is preparing to launch Aiden in Europe and to launch another algorithm on its artificial intelligence-based electronic trading platform. Shary Mudassir, co-head of global electronic trading at RBC Capital Markets, told Markets Media: "We are in the final stages of preparing to launch Aiden in Europe over the coming months." The Canadian bank launched Aiden in October last year after being developed jointly by RBC Capital Markets and Borealis AI, a research center created by the bank. The platform has been available to RBC Capital Markets clients trading in U.S. and Canadian equities. "As client activity and data increased, we began exploring ways to make changes more efficiently and started investing in machine learning and artificial intelligence with Borealis AI five years ago," added Mudassir.
How Artificial Intelligence Realized Chipotle's 'Worst Queso Scenario'
Following a tough series of highly publicized norovirous outbreaks over the summer, Chipotle Mexican Grill's lackluster queso debut last September perfectly positioned the chain for a flurry of social-media-based schadenfreude. And while viral waves of backlash have been normalized in our current social media climate, Chipotle's recent queso mishap has caught the attention of artificial intelligence-wielding financial analysts. For a note titled "Worst Queso Scenario?" RBC trained a machine to assess how social media backlash impacted Chipotle. David Palmer, RBC Capital Markets' restaurant and packaged food analyst, outlined how RBC Capital Markets' research department uniquely used artificial intelligence to robustly understand how social media actions, like tweets and Google searches, could be linked to the chain's future business health.