{"id":3990,"date":"2022-04-18T17:22:34","date_gmt":"2022-04-18T17:22:34","guid":{"rendered":"https:\/\/devexperts.com\/blog\/?p=3990"},"modified":"2025-01-23T13:26:26","modified_gmt":"2025-01-23T13:26:26","slug":"ai-for-brokers-and-traders-state-of-the-art-2022","status":"publish","type":"post","link":"https:\/\/devexperts.com\/blog\/ai-for-brokers-and-traders-state-of-the-art-2022\/","title":{"rendered":"AI for Brokers and Traders: State-of-the-Art 2022"},"content":{"rendered":"\n<p><em>After over 20 years, the tech industry is wondering if we have any technology left that can revolutionise and evolutionise the brokerage business, or are we stuck in an incremental phase?<\/em><\/p>\n\n\n\n<div class=\"wp-block-devexperts-custom-thumbnail\"><figure><picture><source media=\"(max-width: 639px)\" data-srcset=\"https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/AI-for-Brokers-and-Traders-State-of-the-Art-2022-1-600x338.jpg 2x, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/AI-for-Brokers-and-Traders-State-of-the-Art-2022-1-300x169.jpg 1x\"\/><source media=\"(min-width: 640px) and (max-width: 767px)\" data-srcset=\"https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/AI-for-Brokers-and-Traders-State-of-the-Art-2022-1-1168x657.jpg 2x, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/AI-for-Brokers-and-Traders-State-of-the-Art-2022-1-600x338.jpg 1x\"\/><source media=\"(min-width: 768px) and (max-width: 1023px)\" data-srcset=\"https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/AI-for-Brokers-and-Traders-State-of-the-Art-2022-1-1168x657.jpg 2x, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/AI-for-Brokers-and-Traders-State-of-the-Art-2022-1-728x410.jpg 1x\"\/><source media=\"(min-width: 1024px) and (max-width: 1279px)\" data-srcset=\"https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/AI-for-Brokers-and-Traders-State-of-the-Art-2022-1-1168x657.jpg 1x, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/AI-for-Brokers-and-Traders-State-of-the-Art-2022-1-690x388.jpg 1x\"\/><source media=\"(min-width: 1280px)\" data-srcset=\"https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/AI-for-Brokers-and-Traders-State-of-the-Art-2022-1-1752x986.jpg 2x,\n\t\t\t\thttps:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/AI-for-Brokers-and-Traders-State-of-the-Art-2022-1-1752x986.jpg 1.5x,\n\t\t\t\thttps:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/AI-for-Brokers-and-Traders-State-of-the-Art-2022-1-870x489.jpg 1x\"\/><img decoding=\"async\" class=\"singleThumbnail lazyload\" src=\"https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/AI-for-Brokers-and-Traders-State-of-the-Art-2022-1-1024x576.jpg\" data-src=\"https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/AI-for-Brokers-and-Traders-State-of-the-Art-2022-1-870x489.jpg\"\/><\/picture><\/figure><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-ai-and-machine-learning-tools-that-traders-look-for\">AI and Machine Learning Tools That Traders Look For<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/ai-and-machine-learning.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"333\" src=\"https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/ai-and-machine-learning-1024x333.png\" alt=\"AI and Machine Learning Tools That Traders Look For in Today\u2019s World\" class=\"wp-image-3997\" srcset=\"https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/ai-and-machine-learning-1024x333.png 1024w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/ai-and-machine-learning-300x98.png 300w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/ai-and-machine-learning-70x23.png 70w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/ai-and-machine-learning-454x148.png 454w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/ai-and-machine-learning-574x187.png 574w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/ai-and-machine-learning-861x280.png 861w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/ai-and-machine-learning-290x94.png 290w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/ai-and-machine-learning-277x90.png 277w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/ai-and-machine-learning-354x115.png 354w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/ai-and-machine-learning-531x173.png 531w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/ai-and-machine-learning-600x195.png 600w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/ai-and-machine-learning-690x224.png 690w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/ai-and-machine-learning-728x237.png 728w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/ai-and-machine-learning-870x283.png 870w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/ai-and-machine-learning-928x302.png 928w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/ai-and-machine-learning-1168x380.png 1168w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/ai-and-machine-learning-768x250.png 768w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/ai-and-machine-learning-320x104.png 320w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/ai-and-machine-learning-382x124.png 382w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/ai-and-machine-learning-578x188.png 578w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/ai-and-machine-learning-800x260.png 800w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/ai-and-machine-learning.png 1200w\" sizes=\"auto, (max-width: 959px) calc(100vw - 30px), 870px\" \/><\/a><\/figure>\n\n\n\n<p>The phrase \u201cArtificial Intelligence\u201d is thrown around a lot these days. Typically, the broader the promised set of functions is, the less likely it will actually work.<\/p>\n\n\n\n<p>AI won\u2019t be the \u201csilver bullet\u201d for any given case, but we\u2019d like to shed some light on using it to solve business-oriented problems\u2013specifically trading.<\/p>\n\n\n\n<p>In general, the goal of trading is to make a profit. Its process is tied up with decision-making and technical analysis based on statistical data. The analysis and search for market patterns can be performed by humans, and also by computers and artificial intelligence.<\/p>\n\n\n\n<p>The stock market has been utilising trading robots with a focus on tracing price movements. JPMorgan\u2019s study states that in 2020, over 60% of trades exceeding $10M were executed using algorithms. Furthermore, the algorithmic trading market is expected to grow by $4 billion by 2024, bringing the total volume to $19 billion.<\/p>\n\n\n\n<p>The numbers look significant, but it\u2019s even more important to pay attention to the dynamics.<\/p>\n\n\n\n<p>What makes market players use trading robots and algorithms at an increasing rate? Can AI handle any other functions for different market players?<\/p>\n\n\n\n<p>Let&#8217;s look for answers.<\/p>\n\n\n\n<h2 id=\"h-traders-expectations\" class=\"wp-block-heading\">Traders\u2019 Expectations<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/traders-expectations.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"333\" src=\"https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/traders-expectations-1024x333.png\" alt=\"Traders\u2019 Expectations\" class=\"wp-image-4000\" srcset=\"https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/traders-expectations-1024x333.png 1024w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/traders-expectations-300x98.png 300w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/traders-expectations-70x23.png 70w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/traders-expectations-454x148.png 454w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/traders-expectations-574x187.png 574w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/traders-expectations-861x280.png 861w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/traders-expectations-290x94.png 290w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/traders-expectations-277x90.png 277w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/traders-expectations-354x115.png 354w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/traders-expectations-531x173.png 531w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/traders-expectations-600x195.png 600w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/traders-expectations-690x224.png 690w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/traders-expectations-728x237.png 728w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/traders-expectations-870x283.png 870w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/traders-expectations-928x302.png 928w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/traders-expectations-1168x380.png 1168w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/traders-expectations-768x250.png 768w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/traders-expectations-320x104.png 320w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/traders-expectations-382x124.png 382w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/traders-expectations-578x188.png 578w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/traders-expectations-800x260.png 800w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/traders-expectations.png 1200w\" sizes=\"auto, (max-width: 959px) calc(100vw - 30px), 870px\" \/><\/a><\/figure>\n\n\n\n<p>In the past two years, the FX market withstood massive challenges worldwide and experienced growth for several reasons:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Surge in remote work due to the COVID-19 pandemic, and many people have become unemployed and started looking for a new source of income.&nbsp;<\/li>\n\n\n\n<li>Increased telecom and internet coverage worldwide has led to a major influx of new traders using a variety of online trading platforms.<\/li>\n\n\n\n<li>High liquidity of the FX market and low transaction costs made trading, especially through mobile apps, accessible to anyone.<\/li>\n<\/ul>\n\n\n\n<p>However, those who started dabbling in trading when the pandemic hit decided to step aside in Q3 2021. According to Bloomberg, the total equity volume from individual US investors fell from 24% to 19%. Possibly, this happened due to high market volatility, lack of experience, and the need for time-consuming analysis and market situation monitoring.<\/p>\n\n\n\n<p>If these explanations are in line with the real situation, we can highlight some traders\u2019 needs that brokers can address and make financial markets accessible to a wider audience.<\/p>\n\n\n\n<p>Rapid AI development hasn&#8217;t been left unnoticed by retail market participants, either. Old-timers in the financial markets and beginner traders have surely heard a lot about how AI beats humans in solving specific tasks.<\/p>\n\n\n\n<p>We analysed many research papers and use cases in the field of finance and trading, and revealed that today traders expect the following features to be provided by an online brokerage:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Automation of routine tasks<\/li>\n\n\n\n<li>Tools that help make more informed decisions<\/li>\n\n\n\n<li>Risk management<\/li>\n<\/ul>\n\n\n\n<h2 id=\"h-how-brokers-can-meet-these-expectations\" class=\"wp-block-heading\">How Brokers Can Meet These Expectations<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/how-brokers-can-meet-expectations.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"333\" src=\"https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/how-brokers-can-meet-expectations-1024x333.png\" alt=\"How brokers can meet these expectations\" class=\"wp-image-4001\" srcset=\"https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/how-brokers-can-meet-expectations-1024x333.png 1024w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/how-brokers-can-meet-expectations-300x98.png 300w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/how-brokers-can-meet-expectations-70x23.png 70w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/how-brokers-can-meet-expectations-454x148.png 454w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/how-brokers-can-meet-expectations-574x187.png 574w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/how-brokers-can-meet-expectations-861x280.png 861w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/how-brokers-can-meet-expectations-290x94.png 290w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/how-brokers-can-meet-expectations-277x90.png 277w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/how-brokers-can-meet-expectations-354x115.png 354w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/how-brokers-can-meet-expectations-531x173.png 531w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/how-brokers-can-meet-expectations-600x195.png 600w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/how-brokers-can-meet-expectations-690x224.png 690w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/how-brokers-can-meet-expectations-728x237.png 728w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/how-brokers-can-meet-expectations-870x283.png 870w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/how-brokers-can-meet-expectations-928x302.png 928w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/how-brokers-can-meet-expectations-1168x380.png 1168w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/how-brokers-can-meet-expectations-768x250.png 768w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/how-brokers-can-meet-expectations-320x104.png 320w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/how-brokers-can-meet-expectations-382x124.png 382w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/how-brokers-can-meet-expectations-578x188.png 578w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/how-brokers-can-meet-expectations-800x260.png 800w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/how-brokers-can-meet-expectations.png 1200w\" sizes=\"auto, (max-width: 959px) calc(100vw - 30px), 870px\" \/><\/a><\/figure>\n\n\n\n<p>Let\u2019s discuss how brokers can supply these features to win the race for more customers.<\/p>\n\n\n\n<h3 id=\"h-1-automation-of-routine-tasks\" class=\"wp-block-heading\">1. <strong>Automation of Routine Tasks<\/strong><\/h3>\n\n\n\n<p>Below are the links to several research papers demonstrating that people seek ways to spend less time on data analysis:<br><br><a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3520684\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Machine Learning-Based Financial Statement Analysis<\/a> (January 2020)<br>This paper explores how machine learning is applied to financial statement analysis. It compares a range of machine learning models and their ability to predict abnormal stock returns around earnings announcements. This analysis is based solely on past financial statement data.<br><br><a href=\"https:\/\/www.stern.nyu.edu\/sites\/default\/files\/assets\/documents\/ChenChoDouLev2021WP.pdf\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Fundamental Analysis of Detailed Financial Data: A Machine Learning Approach<\/a> (April 2021)<br>The paper conducts a fundamental analysis of detailed financial information to predict earnings. The authors leverage machine learning methods to combine the high-dimensional financial data into a summary measure that shows significant predictive power.<\/p>\n\n\n\n<p>One of the products that automate data analysis is K Score. It handles large and diverse data sets and runs a variety of predictive models to come up with stock-ranking rating.<\/p>\n\n\n\n<h3 id=\"h-2-tools-that-help-make-more-informed-decisionsthey-lower-the-markets-entry-barrier\" class=\"wp-block-heading\">2. <strong>Tools that Help Make More Informed Decisions\u2014They Lower the Market\u2019s Entry Barrier.<\/strong><\/h3>\n\n\n\n<p>Here are a couple of examples of when AI helps with decision-making:<br><br>Alternative data: <a href=\"https:\/\/www.quiverquant.com\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Quiverquant<br><\/a>\u201cQuiver allows retail investors to tap into the power of big data, and have access to actionable, easy to interpret data that hasn\u2019t already been dissected by Wall Street. [Quiver] scrapes alternative stock data from across the internet and aggregates it in a free, easy-to-use web dashboard.\u201d<br><br>Canadian company <a href=\"https:\/\/investwithbuzz.com\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">BUZZ Indexes<\/a> gathers big data from social media and thematic blogs writing about trading and investments. Then, it uses AI to filter the data and translate it into the online community\u2019s opinion on highly-mentioned stocks. They use 15mln data points to optimise their models to maximize profits.<\/p>\n\n\n\n<h3 id=\"h-3-risk-management\" class=\"wp-block-heading\"><br>3. <strong>Risk Management<\/strong><\/h3>\n\n\n\n<p>Here\u2019s an example of how AI can exclude human factors for the sake of risk management.<br><br><a href=\"https:\/\/www.entrepreneur.com\/article\/377985\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">The Aite<\/a> Group in its report &#8220;Hedge Fund Survey, 2020: Algorithmic Trading&#8221; argues that the main reason for the growing popularity of trading algorithms is an attempt to reduce the influence of the human factor on the market.<br>Institutional investors already employ the benefits of algorithmic trading\u2013about 80% of all trading operations on US exchanges are closed using algorithms.<br><br><a href=\"https:\/\/www.techtrader.ai\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Techtrader<\/a> is \u201ca fully autonomous stock trading system that requires no human intervention, [&#8230;]. Requiring no adjustments or updates, it combines a human-like perspective on stocks with the discipline and attention span of a machine.\u201d<\/p>\n\n\n\n<h2 id=\"h-whats-in-there-for-brokers\" class=\"wp-block-heading\">What\u2019s In There For Brokers<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/whats-in-there-for-brokers.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"333\" src=\"https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/whats-in-there-for-brokers-1024x333.png\" alt=\"What\u2019s in there for brokers\" class=\"wp-image-4002\" srcset=\"https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/whats-in-there-for-brokers-1024x333.png 1024w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/whats-in-there-for-brokers-300x98.png 300w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/whats-in-there-for-brokers-70x23.png 70w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/whats-in-there-for-brokers-454x148.png 454w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/whats-in-there-for-brokers-574x187.png 574w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/whats-in-there-for-brokers-861x280.png 861w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/whats-in-there-for-brokers-290x94.png 290w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/whats-in-there-for-brokers-277x90.png 277w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/whats-in-there-for-brokers-354x115.png 354w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/whats-in-there-for-brokers-531x173.png 531w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/whats-in-there-for-brokers-600x195.png 600w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/whats-in-there-for-brokers-690x224.png 690w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/whats-in-there-for-brokers-728x237.png 728w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/whats-in-there-for-brokers-870x283.png 870w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/whats-in-there-for-brokers-928x302.png 928w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/whats-in-there-for-brokers-1168x380.png 1168w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/whats-in-there-for-brokers-768x250.png 768w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/whats-in-there-for-brokers-320x104.png 320w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/whats-in-there-for-brokers-382x124.png 382w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/whats-in-there-for-brokers-578x188.png 578w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/whats-in-there-for-brokers-800x260.png 800w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/whats-in-there-for-brokers.png 1200w\" sizes=\"auto, (max-width: 959px) calc(100vw - 30px), 870px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li><em>Why meet traders&#8217; needs?<\/em><\/li>\n\n\n\n<li><em>Effects of having and not having AI (\u201cWhy now?&#8221;)<\/em><\/li>\n\n\n\n<li><em>How brokers can benefit from AI directly<\/em><\/li>\n<\/ul>\n\n\n\n<p>It\u2019s no secret that clients\u2019 trading activity is one of the main factors that define a broker&#8217;s performance. Let\u2019s take a look at how machine learning and AI can help brokers when serving their clients.<\/p>\n\n\n\n<p>ML-based forecasting tools can cover increasing traders\u2019 engagement with trading signals.<\/p>\n\n\n\n<p>Then, a growing number of traders turn to robo-advisors when purchasing and managing their portfolio. Quite opportunely, more research papers have recently discussed using deep neural networks for trading. They suggest that individual investors expect brokers to provide this functionality as assistance when creating a portfolio, so brokerages should start incorporating such tools into their technical stack.<\/p>\n\n\n\n<p>For now, most individual traders manage their portfolios on their own, though brokers can help them select the right instruments with investment advice. However, traders usually wish to know why an instrument is considered profitable at the moment. They\u2019ll also need something else to back it up in addition to the general analytics opinion. In this regard, the solution developed by <a href=\"https:\/\/hoopsai.com\/\">hoops.ai<\/a> seems quite intriguing. Brokers can integrate this product with their trading platforms to analyse markets and generate readable and information-rich reports on a selected instrument, so traders can make more informed choices.<\/p>\n\n\n\n<p>When it comes to attracting new traders, lowering the entry barrier for new users might work. A new trader\u2019s user experience depends on the usability and features of a trading platform, but it also counts on the knowledge of the industry and time required for trading.<\/p>\n\n\n\n<p>As a result, a broker obtains a competitive edge by reducing either the required skill level or time spent on trading.<\/p>\n\n\n\n<p>To save essential traders&#8217; time, standalone DL-based trading robots help copy and maintain user-defined strategies.<\/p>\n\n\n\n<p>Production of personalised up-to-date educational content can also be beneficial if it takes into account the latest market events. To make it easier, brokers can leverage generative language model solutions that use AI. That\u2019ll generate unique content based on trader\u2019s interests.<\/p>\n\n\n\n<p>Speaking about generative models, it\u2019s also worthwhile to think about generating marketing content. Brokers could use such models to collect social network opinions and sentiments on the latest trading events and highlight trends. That could even supply the broker\u2019s marketing department with analytical content. It would help the broker\u2019s marketing team save time and effort for other tasks.<\/p>\n\n\n\n<p>Besides content generation, brokers can use ML for semantic analysis of user comments in the company\u2019s social network profile. Support teams can employ such a tool to monitor customer satisfaction and identify the most common issues reported by users. From this feedback, they can teach their models further.&nbsp;<\/p>\n\n\n\n<p>Marketing professionals can also benefit from machine learning by purchasing advertising traffic that is one of the trickiest tasks for the marketing department. The thing is, sometimes you can evaluate the campaign performance only by counting new user LTV over a lengthy time span. Here, data analysis and predictive modelling come to the rescue. Predictive modelling is a mathematical process used to predict future events or outcomes by analysing patterns in a given set of input data.<\/p>\n\n\n\n<p>Trying to attract new users, you shouldn&#8217;t forget about keeping the existing ones engaged. Predicting client attrition by trading activity, increased number of support requests, and other factors will help identify the users who aren\u2019t satisfied with the platform or service. Brokers can also keep these users engaged with their platform by sending them automatically generated personalised emails.<\/p>\n\n\n\n<h2 id=\"h-issues-that-ai-and-ml-can-solve-in-fintech\" class=\"wp-block-heading\">Issues that AI and ML Can Solve in Fintech<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/issues.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"333\" src=\"https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/issues-1024x333.png\" alt=\"Issues that AI and ML Can Solve in Fintech\" class=\"wp-image-4003\" srcset=\"https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/issues-1024x333.png 1024w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/issues-300x98.png 300w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/issues-70x23.png 70w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/issues-454x148.png 454w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/issues-574x187.png 574w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/issues-861x280.png 861w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/issues-290x94.png 290w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/issues-277x90.png 277w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/issues-354x115.png 354w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/issues-531x173.png 531w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/issues-600x195.png 600w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/issues-690x224.png 690w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/issues-728x237.png 728w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/issues-870x283.png 870w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/issues-928x302.png 928w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/issues-1168x380.png 1168w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/issues-768x250.png 768w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/issues-320x104.png 320w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/issues-382x124.png 382w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/issues-578x188.png 578w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/issues-800x260.png 800w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/issues.png 1200w\" sizes=\"auto, (max-width: 959px) calc(100vw - 30px), 870px\" \/><\/a><\/figure>\n\n\n\n<p>&#8211; Biometrics<\/p>\n\n\n\n<p>&#8211; Anti-fraud practice<\/p>\n\n\n\n<p>&#8211; AI search for data in corporate systems: defining the essence of search requests and search for documents with vital information<\/p>\n\n\n\n<p>&#8211; Reporting<\/p>\n\n\n\n<p>&#8211; Virtual assistants for finance planning<\/p>\n\n\n\n<p>&#8211; Collecting information from news\/social networks for fundamental analysis<\/p>\n\n\n\n<p>&#8211; Processing market data\/indices for technical analysis<\/p>\n\n\n\n<p>&#8211; Consulting on medium-term investment<\/p>\n\n\n\n<p>&#8211; Managing and diversifying portfolio<\/p>\n\n\n\n<p>&#8211; Comparing analysts and checking their performance when choosing the best strategies for mirror trading<\/p>\n\n\n\n<p>&#8211; Building behavioural patterns of market shocks<\/p>\n\n\n\n<p>&#8211; Detecting market manipulation and collusion<\/p>\n\n\n\n<h2 id=\"h-humanintheloop-vs-fully-automated-ai\" class=\"wp-block-heading\">Human-in-the-Loop vs. Fully Automated AI<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/human-in-the-loop.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"333\" src=\"https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/human-in-the-loop-1024x333.png\" alt=\"Human-in-the-Loop vs. Fully Automated AI\" class=\"wp-image-4004\" srcset=\"https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/human-in-the-loop-1024x333.png 1024w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/human-in-the-loop-300x98.png 300w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/human-in-the-loop-70x23.png 70w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/human-in-the-loop-454x148.png 454w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/human-in-the-loop-574x187.png 574w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/human-in-the-loop-861x280.png 861w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/human-in-the-loop-290x94.png 290w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/human-in-the-loop-277x90.png 277w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/human-in-the-loop-354x115.png 354w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/human-in-the-loop-531x173.png 531w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/human-in-the-loop-600x195.png 600w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/human-in-the-loop-690x224.png 690w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/human-in-the-loop-728x237.png 728w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/human-in-the-loop-870x283.png 870w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/human-in-the-loop-928x302.png 928w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/human-in-the-loop-1168x380.png 1168w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/human-in-the-loop-768x250.png 768w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/human-in-the-loop-320x104.png 320w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/human-in-the-loop-382x124.png 382w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/human-in-the-loop-578x188.png 578w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/human-in-the-loop-800x260.png 800w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/human-in-the-loop.png 1200w\" sizes=\"auto, (max-width: 959px) calc(100vw - 30px), 870px\" \/><\/a><\/figure>\n\n\n\n<p>Much of what is available on the market comes with significant limitations compared to expectations. If you want to decide on an ML solution that suits your needs, you\u2019ll need to understand the difference between human-in-the-loop and fully-automated technology.<\/p>\n\n\n\n<p>Here are <strong>3 available options<\/strong>:<\/p>\n\n\n\n<p>1. <strong>AI Assistance:<\/strong> Provides information for decision-making<\/p>\n\n\n\n<p>Example: ML models can analyse information from multiple different data sources. Then, they\u2019ll provide traders with aggregated results about market sentiment regarding specific instruments. Traders can use obtained information to decide on buying, for example.<\/p>\n\n\n\n<p>2. <strong>Partial Automation:<\/strong> Model makes straightforward decisions. Human experts solve the more tricky cases<\/p>\n\n\n\n<p>Example: Customer support chatbots. They help traders find answers to their day-to-day questions. But when they struggle with understanding a user\u2019s intent or have no functionality for resolving the issue, they can transfer the ticket to a human specialist.<\/p>\n\n\n\n<p>3. <strong>Full Automation: <\/strong>Human experts don\u2019t intervene in the decision-making process<\/p>\n\n\n\n<p>Example: Reinforcement learning agents for automated stock trading.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Advantages of Automation<\/strong><\/td><td><strong>Disadvantages of Automation<\/strong><\/td><\/tr><tr><td>More scalable and usually less-time consuming<\/td><td>Prone to inductive bias*<\/td><\/tr><tr><td>Decreased human factor<\/td><td>Less control<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><em>*Inductive bias is a set of assumptions that a model has learnt during training and now uses to predict outputs of given inputs that it hasn\u2019t encountered yet.<\/em><\/p>\n\n\n\n<h2 id=\"h-risks\" class=\"wp-block-heading\">Risks<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/risks.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"333\" src=\"https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/risks-1024x333.png\" alt=\"Risks\" class=\"wp-image-4005\" srcset=\"https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/risks-1024x333.png 1024w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/risks-300x98.png 300w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/risks-70x23.png 70w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/risks-454x148.png 454w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/risks-574x187.png 574w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/risks-861x280.png 861w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/risks-290x94.png 290w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/risks-277x90.png 277w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/risks-354x115.png 354w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/risks-531x173.png 531w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/risks-600x195.png 600w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/risks-690x224.png 690w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/risks-728x237.png 728w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/risks-870x283.png 870w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/risks-928x302.png 928w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/risks-1168x380.png 1168w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/risks-768x250.png 768w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/risks-320x104.png 320w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/risks-382x124.png 382w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/risks-578x188.png 578w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/risks-800x260.png 800w, https:\/\/devexperts.com\/blog\/app\/uploads\/2022\/04\/risks.png 1200w\" sizes=\"auto, (max-width: 959px) calc(100vw - 30px), 870px\" \/><\/a><\/figure>\n\n\n\n<p>As usual, benefits come along with risks. What are the risks of AI in trading?<\/p>\n\n\n\n<p><strong>AI-Based Software Enormously Varies in Quality<\/strong><\/p>\n\n\n\n<p>AI-advisors and bots are only as good as their underlying software. The bottom line is, they\u2019re manually designed, built, and trained, and people are prone to making mistakes. Your AI bot won\u2019t be worth it if it\u2019s been developed sloppily.<\/p>\n\n\n\n<p><strong>Suspicious Software Vendors<\/strong><\/p>\n\n\n\n<p>The number of software vendors offering AI-based software is surreal. They promise whole mountains of gold but are yet to deliver on these promises. That\u2019s why, you need to be careful when choosing one.<\/p>\n\n\n\n<p><strong>The Ever-Changing Nature of Markets<\/strong><\/p>\n\n\n\n<p>As markets constantly change and evolve, you\u2019ll have to update your AI software and bots accordingly. That is, if you plan on making profits from your AI instances in the long run.<\/p>\n\n\n\n<h2 id=\"h-conclusion\" class=\"wp-block-heading\">Conclusion<\/h2>\n\n\n\n<p>Ultimately, we\u2019ve listed many opportunities that AI brings to brokers in terms of engaging and empowering traders and investors. Machine learning technology has come a long way, but it still isn\u2019t perfect. That means brokers willing to tap into the benefits of the technology need to be extra careful when choosing a third-party vendor and deciding to develop some bots without outside help.<\/p>\n\n\n\n<p>Here at Devexperts, we\u2019ve been busy raising our own AI-based virtual assistant, Devexa. It won\u2019t earn you effortless millions but will definitely help to improve the trader\u2019s experience with your brokerage. Devexa will also increase your customer satisfaction rates, and at the same time, reduce the load on your support desk through automation. In a nutshell, our formula for Devexa is advanced machine learning + specific-domain expertise. If you\u2019d like to learn more, head <a href=\"https:\/\/devexa.devexperts.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a>.<\/p>\n\n\n\n<p>What are the business domains you\u2019d like to automate using <a href=\"https:\/\/devexperts.com\/ai-ml-development-services\/\">artificial intelligence and machine learning<\/a>? Leave your comments below!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After over 20 years, the tech industry is wondering if we have any technology left that can revolutionise and evolutionise &hellip; <\/p>\n","protected":false},"author":32,"featured_media":4011,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2021,2020],"tags":[65,62],"class_list":["post-3990","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-fintech","tag-ai","tag-technology"],"acf":{"nifty_post_card_image":7772,"nifty_post_card_index_big":4510,"nifty_post_inner_image":7773,"nifty_post_card_banner":4508},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>AI for Brokers and Traders: State-of-the-Art 2022\u2014Devexperts 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