Will Robots Take Over FX Trading? Panel at iFX Expo International 2017

The third panel of the day at iFX Expo International 2017 was called "AI & Automation in the Trading Eco-System – Are We There Yet?"

Experts from diverse segments shed light on the ways that automation is transforming their side of the business, discussed the current phase of the technological arms race and ventured into outrageous predictions of what is yet to come.

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"The watershed moment of #AI and automation is passing from warning brokers to take direct action" #ifxexpo pic.twitter.com/SlQlq687eF

— Finance Magnates (@financemagnates) May 24, 2017

Panelists included Andrew Ralich, CEO and co-founder, oneZero Financial Systems; Steven Hatzakis, Global Director of Research, ForexBrokers.com; Oded Shefer, CEO and founder, CPattern; Gil Eyal, Tradency; Guy Dvir, co-founder, CommPeak; Gilad Gat, CTO, Tipranks; and Jonathan Frankenstein, o-systems.

Ralich: "Automation has been from day one for us. The line between AI and automation is between learning and acting."

Frankenstein: "The automation we use is simple, AI it’s something else. It provides more data. From our point of view, we try to give the salesperson more information. The more data we have the more precise we can be."

Eyal: "AI is a brave effort to try and perform cognitive human tasks, while machines just try to imitate. Our product was based on automation more than ten years ago. AI used to be part of the strategy development itself."

Dvir: "Automation tries to lower the costs of your call centers, because we found out that a salesman on a nine hour shift only deals with speaking with clients for 2-2.5 hours."

Gat: "We’re seeing a big transition towards big data and wisdom of the crowd at the Equities Equities Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Read this Term market for instance. We analyze with Machine Learning Machine Learning Machine learning is defined as an application of artificial intelligence (AI) that looks to automatically learn and improve from experience without being explicitly programmed. Machine learning is a rapidly growing field that also focuses on the development of computer programs that can access data and use it learn for themselves.This has many potential benefits for most industries and sectors, including the financial services industry. Machine Learning ExplainedMachine learning can be explained Machine learning is defined as an application of artificial intelligence (AI) that looks to automatically learn and improve from experience without being explicitly programmed. Machine learning is a rapidly growing field that also focuses on the development of computer programs that can access data and use it learn for themselves.This has many potential benefits for most industries and sectors, including the financial services industry. Machine Learning ExplainedMachine learning can be explained Read this Term financial bloggers and analysts. We look at a set of paragraphs and understand what the intention of the author is by machine learning, and constant feedback."

Sheffer: "Removing the human foot off the ground is automation. AI today is very sophisticated computer software. You need to identify the right trader at the right time and the right place."