And this is why traders won't be replaced by AI - Because most are smart individuals who are continuously increasing their worth by learning new skills and ensuring they work WITH new technology rather than opposing it. They regularly elevate their skillset e.g. from manual trading to monitoring, performing trend analysis on a more automated trading system.
I worked in the finance industry as business facing software dev for 10 years and now work in a different but similar industry - my experiences can't be more different. My current industry's business is packed full of "traders" who don't trust the systems, won't work with them and outright refuse to admit the systems can outperform human's PnL numbers (especially not their own) despite being faced with raw numbers saying just that. It's a continuous battle between the technology teams being told to deliver automated systems to reduce costs and increase profitability vs plenty of "traders" who seem to see the systems as some sort of threat. As you say, most of the 'dump big swinging dick' style traders are long gone in finance - they're definitely still around in mine. My guess is that because our industry is significantly smaller meaning less employee opportunities, and the fact that almost all of these "traders" are relatively poorly educated (compared to those in the finance sector) they find it tough to elevate their own skillset to do things such as statistical quantitative analysis etc.
If it wasn't for the very high difficulty of entry, my industry is ripe for statistically minded, methodical, quant people to come in and make a killing.
I worked in the finance industry as business facing software dev for 10 years and now work in a different but similar industry - my experiences can't be more different. My current industry's business is packed full of "traders" who don't trust the systems, won't work with them and outright refuse to admit the systems can outperform human's PnL numbers (especially not their own) despite being faced with raw numbers saying just that. It's a continuous battle between the technology teams being told to deliver automated systems to reduce costs and increase profitability vs plenty of "traders" who seem to see the systems as some sort of threat. As you say, most of the 'dump big swinging dick' style traders are long gone in finance - they're definitely still around in mine. My guess is that because our industry is significantly smaller meaning less employee opportunities, and the fact that almost all of these "traders" are relatively poorly educated (compared to those in the finance sector) they find it tough to elevate their own skillset to do things such as statistical quantitative analysis etc.
If it wasn't for the very high difficulty of entry, my industry is ripe for statistically minded, methodical, quant people to come in and make a killing.