Next frontier is creating AI to reduce number of traders banks need
PUBLISHED : 25 Sep 2024 at 15:08
AI is being used to automate currency pricing, enhancing efficiency and reducing reliance on human traders.
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Next frontier is creating AI to reduce number of traders banks need
PUBLISHED : 25 Sep 2024 at 15:08
AI is being used to automate currency pricing, enhancing efficiency and reducing reliance on human traders. (Photo: 123RF)
LONDON – ING Groep NV is starting to use artificial intelligence (AI) to price currencies, replacing a job traditionally performed manually by the bank’s traders.
The Dutch lender’s new AI model employs “reinforcement learning” — a…