Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Connect with us

Hi, what are you looking for?

slide 3 of 2
THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Technology

Technology

In ChatGPT frenzy, Chinese quants increase AI bets.

Creator: DADO RUVIC Creator: DADO RUVIC
Creator: DADO RUVIC Creator: DADO RUVIC

Listen to the article now

In the ChatGPT frenzy, Chinese quants increase AI bets. After Microsoft’s OpenAI chatbot’s global success, Chinese quant hedge fund managers are eager to try ChatGPT-style products.

Quants’ focus on advanced artificial intelligence to aid decision-making comes amid a harsh investing climate as China’s post-COVID recovery wanes and competition intensifies in its 20 trillion yuan ($3 trillion) private fund market.

“ChatGPT is revolutionary… “It can conclude a complicated network of relationships with many dimensions in ways human brains cannot,” said Shanghai-based MX Capital partner Steve Chen.

“Exploring its ability is now our main focus.”

His hedge firm employs ChatGPT to comprehend corporate fundamentals, avoid value traps, predict earnings power, and discover investment possibilities and hazards.

Based on user suggestions, ChatGPT can write poems, make music, draw paintings, and generate other humanlike answers.

Baiont Capital’s chairman Feng Ji claimed a ChatGPT-like tool improves quants’ text processing.

“We were also inspired by ChatGPT to build large models using trading data, instead of text,” Feng stated.

Feng’s hedge fund, backed by former Google China executive and AI veteran Kai-Fu Lee, has invested extensively in hardware to boost model-training computer power.

High-Flyer, one of China’s largest quant funds, calls sophisticated AI the “greatest innovation of our times.”

High-Flyer launched a disruptive AI research section in April.


Comment Template

You May Also Like

Technology

In Davos 2025, AI dominated the World Economic Forum, marking its shift from futuristic concept to global driver of change. Discussions explored AI’s transformative...

Technology

Anthropic stated on Thursday that the advantages of California’s updated measure, which aims to control the development and deployment of artificial intelligence within the...

Business

By the year’s end, Taco Bell plans to have implemented AI ordering at hundreds of US sites, following two years of testing in a...

Business

The Oversight Board reported Thursday that Meta failed to remove an explicit, AI-generated image of an Indian public figure until it was questioned by...

Notice: The Biznob uses cookies to provide necessary website functionality, improve your experience and analyze our traffic. By using our website, you agree to our Privacy Policy and our Cookie Policy.

Ok