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How to Use NLP to Take on Wall Street

#artificialintelligence

In January, 2021, retail investors - Robinhood army - came together on Reddit's Wall Street Bets group and other social media outlets to take down prominent hedge funds by causing a short squeeze and pushing up GameStop's stock price by 400% in just one week¹. This amount of volatility is not normal, the retail investors were urged on by the Reddit group to punish hedge funds that had taken an outsized short bet against GameStop. Tracking market sentiment can be a powerful tool for investors because understanding the mood of where the market is going can allow one to capitalize from the changing direction. Combining market sentiment with market fundamental will result in more sound investments. I was fascinated by the showdown between Wall Street and Reddit and inspired to understand how machine learning (ML) can be used to track market sentiment.


Netflix's plan to jump into video games puzzles Wall Street

The Japan Times

Netflix Inc.'s foray into gaming is raising more eyebrows than excitement among analysts. Though there's long been speculation that Netflix might move into video games, Wednesday's news that it had hired an executive to lead the effort -- and would start adding titles to its streaming platform in the next year -- came as a surprise to many. The Los Gatos, California-based company doesn't have the infrastructure or the expertise to create or support top-tier games, analysts said. And that capability won't be easy to build. "They don't have a game catalog -- they haven't cultivated a base of gamers in their audience," said Lewis Ward, research director for gaming at IDC. "And they don't have an internal studio or infrastructure to handle a service."


From Leader to Laggard: Four Areas Machine Learning is Disrupting Wall Street

#artificialintelligence

Algorithmic trading now dominates the derivative, equity, and foreign exchange trading markets. These trading strategies can be complex, but the essentials are straightforward: program a set of rules that takes market data as input and apply basic models (10 -day moving average) to generate an automated trade workflow. Over the years, these strategies have moved beyond simple time-series momentum and mean revision models to more exotic name strategies like snipes, slicers, and boxers. Evolved over decades, algorithm trading has replaced much of the manual trade order flow with faster static rules-based strategies. What was once cutting edge is now an inherent disadvantage.


Nvidia Blows Through Q1 Expectations, Raises Q2 Guidance

#artificialintelligence

Semiconductor maker Nvidia (NASDAQ: NVDA) slipped in pre-market trade Thursday, following a better-than-expected earnings report for fiscal 2022's first quarter. Shares fell $2.70, or 0.43%, to $625.30 The company, which specializes in graphics chips, earned $3.66 per share on revenue of $5.66 billion. Wall Street had pegged net income at $3.28 a share on revenue of $5.41 billion. Those results marked year-over-year gains of 103% and 84%, respectively.


AI's Take On The Overvalued Freeport-McMoRan Inc Stock

#artificialintelligence

Freeport-McMoRan Inc – often shorthanded as Freeport – closed down 1.83% on Thursday to $31.61 per share, dipping harder than the broader markets. The day's end marked a staggering 27 million trades for the mining company, despite continuing a recent pattern of falling stock prices as seen against the 10-day price average of $35.22. However, stock prices are still up almost 16.5% for the year. Currently, the company is trading with a forward 12-month P/E of 12.65. Freeport-McMoRan is a leading international mining company with headquarters in Phoenix, Arizona.


AI can shine digital sunlight on to company greenwashing

#artificialintelligence

If you say the word "green activist" to a corporate executive, Greta Thunberg may spring to mind -- and provoke fear. Today, however, there is another force to watch: robots. Consider an artificial intelligence-enabled platform called "ClimateBert". This was recently created by Swiss and German academics to parse the accounts of 800 businesses backing the "task force for climate related financial disclosure", principles pioneered by Mark Carney, former Bank of England governor. It sounds (and is) geeky.


Artificial intelligence and the Gamestonk blowback

#artificialintelligence

Surrounded by rallies of "power to the people," a rag-tag group of scrappy underdogs recently managed to bring Wall Street to its knees through a dazzling display of disobedient investing that saw Gamestop stocks rocket Moonward. This unprecedented seizure of power by the proletariat has been lauded far and wide as a smack in the mouth for the establishment. Some say it's a warning shot to the financial kings and queens of the Earth. The "Gamestonk" legend will be told for years to come – Hollywood's already making sure of that. But the story is far from done.


The future of Artificial Intelligence depends on 9 companies - Techiexpert.com

#artificialintelligence

As we all know that artificial intelligence can be a significant threat to humankind, and it can ruin humanity. There might be a time that society is at the verge of destruction and that probably not by killer robots. Instead, it will be going to be by the million paper cuts. Working from behind has a vast benefit is the growth of engineering. The complexity of artificial intelligence processing is always spreading into various sides of our lives. The resistance of artificial intelligence in our day to day lives creates a threat to people, defocus from the real objective.


Sean Davis: The GameStop saga isn't about finance, it's about elites vs. populists

FOX News

For those who haven't heard, there's a bit of a brouhaha brewing with the video game retailer GameStop, which is publicly traded. Much of Wall Street soured on the company, believing it to be the next Blockbuster or Radio Shack: a dinosaur from a bygone era that has no hope of succeeding in the increasingly internet-run future. As a result, a major Wall Street hedge fund worth billions decided to make a bet that the company's already low stock price would just keep going lower. The traditional way to make money in stocks was to find a company that was worth more than what its stock price indicated, purchase the stock at a bargain, and then make your money either through the company's distribution of its profits back to its equity owners or the appreciation of its stock price. But you can also make money betting on a company to eventually circle the toilet.


Wall Street is seeing an adoption surge for complex forms of AI. But firms still need to wrap their heads around the tech -- and explain it to regulators.

#artificialintelligence

Financial firms are putting more resources towards using complex forms of machine learning. And that means they'll also need to develop ways to better understand the tech and explain it both internally and to regulators. A recent survey by data giant Refinitiv on the use of artificial intelligence and machine learning in financial services found that 75% of respondents were using some form of deep learning, a type of ML that includes a series of complex, ever-evolving calculations. Those surveyed included data scientists, quants, and executives at a variety of financial firms. Geoffrey Horrell, head of Refinitiv Labs in London, told Business Insider that the surge of interest in deep learning means firms will need to invest resources in understanding these complex algorithms.