JP Morgan continues to hire experts to develop artificial intelligence

In further evidence that the financial world is moving towards artificial intelligence and machine learning, JP Morgan, one of the largest investment banks in the world, has hired a machine learning expert. Previously working for Goldman Sachs, Chris Murray is joining the firm to advance the company’s use of artificial intelligence in a rapidly changing world.

JP Morgan hired expert New York-based expert Chris Murray to help manage its global central risk book. Previously an equity analyst at Goldman Sachs, he will report to Matt Mallgrave, who manages cash equities trading for the Americas. Chris has a master’s degree in machine learning from the Carnegie Mellon University.

It is likely that banks will be increasingly using machine learning to improve the efficiency of their traders and portfolio managers. These tools crunch data from past trades and analyze market behavior to deliver information to aid better decision making in relation to trades. Any consequent improvements in performance is likely to benefit banks and their trading returns in the long run.

Source: Financemagnates.com

Jr Trader Petar Milanov

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