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.
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