00:00Anthropic's latest AI agents are designed to win over Wall Street.
00:04But here's why traders look safe in their jobs for now.
00:07Anthropic, the firm behind Claude, has unveiled 10 new tools aimed at banking, insurance, asset management, and fintech.
00:15It says the new agents can draft pitch decks, review financial statements, and escalate cases for compliance review.
00:22But what is AI's actual track record when it comes to taking on human traders?
00:27Across a series of trading contests between the world's leading AI models, results from these trading arenas show that most
00:35models lose money.
00:37They trade too much. They make wildly different decisions, even with the same instructions.
00:42Some people even say that each AI model has its own trading personality.
00:46And the real question here is, will the upcoming upgrades overcome these setbacks?
00:51Or are we discovering a clear divergence between the capabilities of LLMs and how markets actually work?
00:59These experiments seem to indicate that while AI can replace specific tasks on Wall Street,
01:05ultimately trading profitably is a complex process with many different parts.
01:10And it seems like that is so hard for LLMs to pull off.
01:13Perhaps that should be no surprise, given that beating the markets is notoriously difficult even for humans.
01:19And none of the most successful hedge funds have ever published their secrets for the LLMs to learn from.
01:25So for now, the hardest job in finance may still be in the hands of the smartest humans.
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