Cash Financial Services Group partnered with Hong Kong Telecom to launch a new stock trading app. The advent of information technology has revolutionized industries, and AI is seen by many as the next big development, so many professions are getting themselves ready to capitalize on this. CFSG chief executive Benson Chan Chi-ming disclosed a month ago the coming of a new trading platform with AI technology developed jointly with the Chinese University of Hong Kong, which has been proactive in AI research in recent years. CFSG is well positioned to introduce this new service. Having been in the securities business for many years, it is well-versed in the operation of the industry and knows what investors want. It is also the local pioneer in online stock trading. The new service targets young investors, and has the involvement of the company's second-generation management member, executive director Jeffrey Kwan Teng-hin. Using AI to assist, or even direct, investing is logical. After all, financial analysis is basically about analyzing data and figures, a job computers can perform in a fast and accurate manner, as they can make use of a huge amount of data online, which is both effective and efficient. Can we then also rely on AI to make investment decisions? Theoretically, AI is more rational than human beings, particularly when market conditions are tumultuous. As investment guru Warren Buffett said, people panic, but not AI, so it is capable of making counter-intuitive investment moves. In fact, major US investment banks like Goldman Sachs are already extensively using AI to do investment work in the place of fund managers. In chess, AI has proved to be smarter than almost all the masters. So it wouldn't actually be too far-fetched to say that in the not-too-distant future computers could invest better than the best of the human gurus. Siu Sai-wo is publisher of Sing Tao Daily
Hong Kong - based Cash Financial Services Limited has joined forces with Hong Kong Telecom to launch a stock trading app aimed at young investors . The app uses AI technology developed in partnership with the Chinese University of Hong Kong . Leading global investment banks are increasingly using AI instead of human fund managers to perform investment work .