Berkley Grads Using Artificial Intelligence To Make Stock Purchases

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Art Amador used to work for a private wealth management sector in Fedelity. When he did, his clients always expected him to know everything about everything. Information about specific companies, global markets and macroeconomics were just a few of the many areas his clients expected him to be an expert in. They were curious about everything related to the stocks they wanted to invest in. Amador wondered if he would ever be able to find a way to know all of the things his clients needed to know.

His wondering came to an end in the fall of 2014. He began to pursue an MBA at a business school at the University of California through Berkley. He was placed in an entrepreneur class with Chida Khatua, a machine-learning specialist and Intel engineer. They began a close relationship that eventually led to the first known AI-powered device to trade funds. The technology is one built to change the way in which computers are used for investing.

The fund was being powered through IBM’s technology of supercomputers. It didn’t end up getting launched initially for a few years. However, the roots of it can be traced right back to the beginning conversations between the two at Berkeley. Khatua was telling Amador that there was no way to gain infinite knowledge about each and every stock or what is going on in every facet of a market. But, as it turns out, he was researching for years how to quickly sift through huge amounts of data that is far beyond the capabilities of humans.

The Birth Of The ETF

After the program had been initially created and designed, the two had went their separate ways. However, in September of 2016, the two came back together and used their respective professions to put the work back into the program. While Amador initially didn’t want to give up his job at Fidelity to work on creating the AI-powered hedge fund machine, Khatua was fully ready to finish building and launching the ETF. To Khatua, he felt it was necessary to get the help of as many as possible to make it happen.

Khatua wanted to combine his expertise with Amador’s expert knowledge. A big reason why Amador finally decided to join with Khatua is because he was accepted to IBM’s Global Entrepreneurship Program. It was, after all, his AI efforts and machine learning that was powered through the company’s supercomputer.

 

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