How Wall Street is Using AI to Boost Productivity

Wall Street professionals are discovering that AI can be a helpful tool, even if it isn't ready to take over their jobs. While some worry about AI's accuracy, others are finding clever ways to use it to save time and gain insights. One interesting example is how Lance Roberts, the CIO at RIA Advisors, uses AI to mimic the investment styles of famous investors like Warren Buffett and Cathie Wood. These AI agents provide different perspectives on the market, helping Roberts and his team make better investment decisions.Rob Arnott, the founder of Research Affiliates, uses AI to summarize books and give feedback on his papers. He prefers Perplexity, an AI that can choose the best AI to answer his questions. This saves him and his team time, especially when preparing for important meetings. AI is also being used for administrative tasks, like making presentations and organizing notes. Seth Klarman, the CEO of Baupost Group, compares AI to a capable assistant or summer intern. David Elder, a wealth manager, uses AI to create presentations by converting interviews into structured content. Chase Doyen, who works for the London Stock Exchange Group, uses AI to organize his notes and plan his day. While AI might not be perfect, it's clear that Wall Street pros are finding ways to make it work for them.