Quant Quants Are Now Just ChatGPT Prompters

Proprietary trading giant Jump Trading has apparently decided that complex financial mathematics and multi-variable statistical models are best outsourced to a chatbot. By pairing OpenAI models with massive proprietary data sets, the firm is attempting to automate the grueling groundwork of quantitative research.

• Quantitative research is getting a chatbot upgrade, because nothing says financial security quite like stochastic hallucinations.
• Longer-running AI workflows mean machines can now lose your money over much longer periods without human intervention.
• Combining multiple data sources ensures the algorithm has more ways to be confidently wrong about market trends.

Why should I care? Could be big
Watching quants hand the keys to an LLM is the financial equivalent of rubbernecking at a highway pile-up.

Read the original: How Jump Trading is scaling quant research with ChatGPT