11. Whatisintelligence?Nov2014Contactchi@autra.orgtodiscussanythingontheseslides
Deep learning and some related technologies (Strong artificial intelligence)
change everything
Automated Driving
Driverless cars,
planes and boats
Automated Visual and
Verbal Translation
No language barriers
Humanoid robots
(finally)
No manual labour
many, many others … education, healthcare, government …
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13. Whatisintelligence?Nov2014Contactchi@autra.orgtodiscussanythingontheseslides
Acquisition date Company Business Country Price Used as or integrated with
24-Oct-14 Revolv Home Automation US Nest Labs
23-Oct-14 Dark Blue Labs Artificial Intelligence UK £tens of millions Google DeepMind
23-Oct-14 Vision Factory Artificial Intelligence UK £tens of millions Google DeepMind
17-Aug-14 Jetpac Artificial intelligence, image recognition US —
20-Jun-14 Dropcam Home Monitoring US $555m Nest Labs
16-May-14 Quest Visual Augmented Reality US — Code Project, Google Translate
14-Apr-14 Titan Aerospace High-altitude UAVs USA — Project Loon
26-Jan-14 DeepMind Technologies Artificial Intelligence UK $500m Google X
13-Jan-14 Nest Labs, Inc Home automation USA $3.2bn Google
10-Dec-13 Boston Dynamics Robotics USA — Google X
7-Dec-13 Bot & Dolly Robotic cameras USA — Google X
6-Dec-13 Holomni Robotic wheels USA — Google X
5-Dec-13 Meka Robotics Robots USA — Google X
4-Dec-13 Redwood Robotics Robotic arms USA — Google X
3-Dec-13 Industrial Perception Robotic arms, computer vision USA — Google X
2-Dec-13 SCHAFT, Inc. Robotics, humanoid robots JPN — Google X
2-Oct-13 Flutter Gesture recognition technology USA $40m Google, Android, Google X
How we know that Google knows
Acquisitions made by Google related to artificial intelligence in the previous 12 months
Source: Wikipedia
14. Whatisintelligence?Nov2014Contactchi@autra.orgtodiscussanythingontheseslides
Software can now excel at playing computer games by tracking their game
score and learning to play by (literally) looking at the screen and pressing
the controls using something called Deep Reinforcement Learning
Software could feasibly look at Bloomberg screens and browse the internet and
learn to trade by issuing trades like a trader within 10 years from now, and likely
do it better than any human trader within 20 years
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15. Whatisintelligence?Nov2014Contactchi@autra.orgtodiscussanythingontheseslides
Sellside
Fully automated trading (no Traders) for all liquid securities
Structurers will need to be proficient in artificial intelligence
Salespeople remain critical to the business and sales-
traders remain key to trading illiquid securities
Future
Why? Because creativity in keeping clients happy comes from human
consciousness and not from (just) intelligence
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16. Whatisintelligence?Nov2014Contactchi@autra.orgtodiscussanythingontheseslides
Buyside
Fully automated investing in liquid strategies
Asset managers will need to be proficient at artificial
intelligence
Private equity and illiquid investments remain fully people
driven (except analysts will have some roles automated)
Client Directors and Specialists remain critical to the business
for interacting with clients
Future
Why? Because creativity in keeping clients happy comes from human
consciousness and not from (just) intelligence
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17. Whatisintelligence?Nov2014Contactchi@autra.orgtodiscussanythingontheseslides
17
Chi Lee
Portfolio Manager
Chi Lee was previously at GAM as Portfolio Manager and Head of Investment
Risk. He was responsible for developing, launching and lead managing all
alternative risk premia strategies at GAM until he left in November 2014. He
successfully grew the strategy from an initial USD50m seed investment in 2012
to USD1bn in institutional AUM within two years as a result of developing and
using new, cutting edge quantitative techniques.
Prior to joining GAM in January 2008, he originated and structured credit
derivatives on the fixed income trading floor with Morgan Stanley, and before
that, he was head of quantitative research with KGR Capital.
He was awarded a BA with First Class Honours in Computer Science from
Cambridge University and an MBA with Honors in Finance from the Wharton
School, where he was a Fulbright Scholar. He is also a Certified FRM with the
Global Association of Risk Professionals.