online gambling singapore online gambling singapore online slot malaysia online slot malaysia mega888 malaysia slot gacor live casino malaysia online betting malaysia mega888 mega888 mega888 mega888 mega888 mega888 mega888 mega888 mega888 Why quant jobs in finance no longer need finance knowledge

摘要: The world is changing for quantitative researchers in finance. Not long ago, they actually needed to know something about financial services, these days they just need to be...quants.

 


The world is changing for quantitative researchers in finance. Not long ago, they actually needed to know something about financial services, these days they just need to be...quants.

So said Marcos Lopez de Prado, former head of machine learning at hedge fund AQR Capital Management and currently a professor of machine learning at Cornell University. Speaking at this week's AI and Data Science in Trading Conference in London, Lopez de Prado said the nature of quantitative research in finance is changing as market participants stop employing their own quants and start crowdsourcing their quant research needs instead.

Under the "old paradigm" investment managers each hired their own siloed teams of researchers with specific finance knowledge, said Lopez de Prado. However, these in-house teams were hard to staff - very few quants combined the"domain knowledge" and quant expertise necessary to tackle finance data sets. “Consequently many complex investment opportunities were not arbitraged or exploited,” said Lopez de Prado, pointing out that only 0.65% of articles in key economic journals contain terms related to artificial intelligence.

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Full Text: efinancialcareers

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