Category: Robots on Wall Street

Math Whiz Trades Stock Markets Without Humans to Make $700 Million Fortune

Robot Labor Force

XTX, which is expanding beyond Europe and building a presence in the United States, reported 2018 profit of $153.4 million, more than double from a year earlier.  It is reported that these profits were generated by trading without humans!   The firm’s success has given the founder Gerko a fortune befitting a tech entrepreneur. His net worth is $700 million, according to calculations by the Bloomberg Billionaires Index.           

Read More

Benefit or Threat? How Artificial Intelligence and Robotics are Changing the Finance Industry and Your Jobs.

Robot Labor Force

Madelyn Bowen, Shelbi Bias, Juan Berru, Severo Bernal, Gabriela Arguello, Jacobo Attias and Robert Autenreith   It is no mystery that Corporate Finance is starting to use Robotic Process Automation (RPA).  These robots aid in the gathering of information such as statistics and data in corporate finance. As of now the nations leading the way with the use of robots are South Korea, Singapore, China, and Germany, followed by Japan, Sweden, and Denmark with the United States ranking 7th (According to USNews). As of now, these robots cost 30,000 US…

Read More