SHANGHAI/SINGAPORE : Chinese quant hedge fund managers are rushing to explore ChatGPT-style tools, embracing the emerging AI technology that has sparked a global frenzy since the release of the widely popular Microsoft-backed OpenAI chatbot.Quants' focus on advanced artificial intelligence to aid decision
SHANGHAI/SINGAPORE : Chinese quant hedge fund managers are rushing to explore ChatGPT-style tools, embracing the emerging AI technology that has sparked a global frenzy since the release of the widely popular Microsoft-backed OpenAI chatbot.
ChatGPT, trained using a huge amount of data, can write poems, compose music, draw paintings, and generate other strikingly humanlike responses based on user prompts. Feng's hedge fund, backed by former Google China chief and AI veteran Kai-Fu Lee, has invested heavily in hardware to enhance computing power required for model-training.
Baiont Capital's Feng is more ambitious, seeking to let robots take full control of the investment process - from data analysis and prediction, to decision-making and execution. While ChatGPT-like tools have stirred excitement, the race to develop and adopt powerful AI services has also fuelled anxiety about privacy, safety and job security.
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