Quant jobs at risk from tech advances

In the battle of man versus machine – or quant versus computer – the machines are winning, according to speakers at the Risk Hedge conference on Tuesday (September 13). The proliferation of data, open-source computer software, machine learning and cheaper computers are threatening to put quants and other types of analysts out of their jobs, said hedge fund managers at the London event. “Not that long ago if you could do Black-Scholes you could make a lot of money on Wall Street, but now there’s an app [to do that] on your phone,” Guy Wolf, chief investment officer at Nanolytics Capital Advisors, an investment firm launched by the commodities broker Marex Spectron, told delegates. Related articles Conference delegates heard how Amazon cloud service costs have fallen 84% since 2010. Processing…

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