What is AI?
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Introduction
The concept of "artificial intelligence" is increasingly popular, and news such as "Google Go program AlphaGo completely crushes professional players" is gradually increasing. The era of artificial intelligence has arrived. Quickly understand what artificial intelligence is through a short article.
Artificial Intelligence (AI), also known as machine intelligence, refers to the intelligence exhibited by artificially manufactured systems and can be summarized as the science of studying intelligent programs. The starting point of this science is to study how to enable programs to think and act like humans, as well as how to maintain rationality (as shown in Figure 1), where rationality can be understood as maximizing utility.
Artificial intelligence technology (AI) has penetrated into every aspect of our daily lives, involving countless industries including gaming, news media, finance, and has been applied to various leading research fields such as robotics, medical diagnosis, and quantum science. The basic knowledge and application areas of artificial intelligence mainly include machine learning, probabilistic reasoning, robotics, computer vision, and natural language processing. Figure 2 illustrates some of the basic applications.
The complex activities in today's society, including image recognition, medical diagnosis, predicting machine failure times, or measuring the prices of certain stocks, often involve thousands of datasets and non-linear relationships between a large number of variables. For example, how can we write a series of rules to enable the program to describe the appearance of a dog in any situation? What if the difficult work of making various complex predictions, namely data optimization and feature specification, could be transferred from programmers to programs, and from traders to programs? This is precisely the promise that modern artificial intelligence brings us.
Artificial intelligence is changing the investment industry. As of June 2018, the first artificial intelligence fund has clearly outperformed the S&P 500 index after 8 months of verification.
As the world's first artificial intelligence fund, this product is entirely machine based for stock selection. Compared to other passive investments, it has the ability for self-learning. Just like Google's AlphaGo, which can learn and evolve by playing games with itself, this fund can also continuously optimize its investment returns through self-learning. Co founder Sam Masusi reiterated in a media interview the three sources of fund evolution:
- Valuation model constructed through artificial intelligence. This model will analyze the publicly disclosed information of over 6000 stocks in the US market and construct a predictive model based on market forecast information.
- Quantitative and qualitative analysis of the management of stocks. The evaluation will be based on whether the company's senior management has successfully utilized opportunities to expand their business.
- Analyze and integrate online information. It will read millions of social media and public reports for analysis and apply them to stock evaluations.
It is understood that the fund uses a quantitative model to rank US stocks on a daily basis, based on which stocks may benefit from economic indicators and specific events that occur. The evaluation indicators come from the three sources mentioned above, and 30 to 70 stocks that are most likely to rise in the next year are selected based on this ranking. This model can also automatically provide the company's holding weight based on the likelihood of future price increases and its correlation with other stocks held.
The AI era is coming. Just like the Internet era in the 1990s, only by embracing change and following the trend can we keep pace with the times.
Summary
Artificial intelligence is a discipline that studies how to enable programs to think, behave, and maintain rationality like humans, and has developed at a very rapid pace, permeating every aspect of life. Only by embracing AI can we keep up with the trend of the times.
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