You are viewing a single comment's thread from:

RE: What Kind of Technology is Used in HFT?

in #money6 years ago (edited)

Although I struggled to understand certain parts

which parts?

what do you think of the future job market? Will computers/AI take over most jobs in the next 4-5 years?

i think that with a lot of tasks the answer is yes. but these will be the jobs most easiest to automate.

any job which can be reduced to a series of steps is at risk from automation. the progress being made in AI's understanding of natural language means that even jobs which require talking with real humans will be automated as well.

any job which requires the kind of thinking only a human can do (for now) has a barrier to entry.

also, most people focus on the jobs that will be lost, but rarely talk about the completely new types of jobs that automation will create.

back when i wasn't my own boss, for example, i was an algo futures trader, a job that most certainly did not even exist before trading automation took over. for a job, i.e. not working for yourself, it was a pretty sweet gig. it was a mixture of herding robotic traders (adjusting parameters for various market conditions), dealing with unknown conditions with possible manual trading intervention, plus a lot of coding, data analysis and just in general learning new technology everyday. an edge (i.e. bigger bonus) could come from anywhere... but i digress...

did automation drive a ton of floor traders into nonexistance? sure, but at that job everyone around me was there because of automation. and there were alot of us. so it was hard to see the advance of technology as anything but a natural process where the weak and sickly of the herd (floor traders) were usurped by their more powerful offspring (algo traders). MY BOSSES WERE THE FLOOR TRADERS WHO WOKE UP ONE DAY AND SAID, "MAN, THESE COMPUTERS ARE REALLY GONNA BE SOMETHING" That was crazy to think about. How these rich dudes now were standing on the same floors back in the 80's and 90's as these GHOSTS haunting what was left of the the floors of the 2000's...

my point here is that automation, despite the name, is rarely fully capable of running itself.

The way that shit gets automated is by taking the smallest piece of a process that can get automated and automating it LOL

so what you end up with is a shit load of separate automated processes with nothing to guide them but a human operator. this kind of thing is called human on top of the loop

the smart humans will learn to make the loop bigger

the guy who trained me used to say "we're always trying to automate ourselves out of a job!"

he didn't mean it in a bad way, he meant it was freedom. once you figured out how something worked you could just automate it and now, shit you had a bunch of time you didn't have before. now you could make yourself better and gain an even further edge.

Sort:  

Wow, thank you very much for the thorough and in depth response, I really appreciate it! That is a very interesting point you brought up about how automation can create even more opportunities than it destroys, and I have never really thought of it that way yet. That seems like a pretty cool job to be an algo futures trader! What did you study in college? I was thinking about studying finance/accounting because that is what I am interested in, but I was also thinking that it would be smarter to learn about coding and computers with the direction society is going.

Another quick note about what made me start to fear quants: Have you seen the show Billions? Best show ever, I highly recommend it!!! Anyways, in a recent episode, Taylor (a temporary hedge fund manager) thought about recruiting quants for algo trading, and all the traditional traders were scared about losing their jobs. I just started to think that this is actually what is happening on Wall Street.

Coin Marketplace

STEEM 0.20
TRX 0.13
JST 0.029
BTC 68237.15
ETH 3499.75
USDT 1.00
SBD 2.72