Artificial intelligence (AI) is going to change the world—this is true beyond a shadow of a doubt.
It will make some businesses better and kill off a few others. The impact on financial markets is going to be enormous.
However, it will be nothing like all the ads and come-on promises we see in the media and online. All those ads about having an artificial intelligence system to pick stocks and predict where the stock will trade in a few days are leading you down a primrose path—they all have a close relationship to the southern leavings of a northbound horse. At best, these systems have a basic machine-learning algorithm that has been around for years.
This post originally appeared at Investors Alley.