Machine learning will transform investment management
According to this article, the role of a quant will radically change in coming years
Advances in machine learning will allow further automation of tasks, including feature discovery, algorithm selection and even the optimization of trading code that implements a signal. With these newer methods, humans can spend their time creating frameworks and obtaining new data sets. Automated methods also reduce the number of quants needed to run a firm, which, given the high cost of salaries, is increasingly important as well.
The tools that enable automated strategy discoveries will also enable customized solutions. This is because the criteria for a successful strategy can be specified upfront in the framework. For instance, one approach could search for a strategy with a specified maximum deviation from a classic index, such as U.S. small-cap value, with as much additional alpha as possible. This type of customization could lead to a new class of retail investment products.
http://www.pionline.com/article/20170320/ONLINE/170319958/machine-learning-will-transform-investment-managementNOTE I now post my TRADING ALERTS into my personal FACEBOOK ACCOUNT and TWITTER. Don't worry as I don't post stupid cat videos or what I eat!