But since then, fantasy has met reality as industry players have learned that AI isn’t exactly what the market made it to be, with challenges ranging from data scarcity to various traps from data application itself. And Cao believes this is a good thing for advocates that actually want to propel the development of AI.
«The hype over AI brought on by AlphaGo has been fading since 2018, according to Google Trends. This is a good sign though if you are a believer of the Gartner hype curve,» Cao observes. «It simply means some pioneers have moved from hype to action and invariably some would have failed. Mainstream adoption will only take place after the «trough of disillusionment» phase shakes out the skeptics.»
«Heart of this Business»
As long the possibility of genuinely unpredictable events exists, humans will continue to have a key role in the investment management industry and Cao believes there should be an underlying understanding that «AI + HI remains the overarching framework for AI adoption».
«As the experiences in this pandemic have proven, the role of professional investors has only gotten more important. And that should not come across as bad news or disappointment for anyone,» he said. «The most important thing for investors to realize in these situations is probably to understand that uncertainty is at the heart of this business».
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