Mikołaj Kunica, Business Insider Polska: It is hard to talk about financial markets, investing in isolation from new technologies supported by artificial intelligence algorithms. During the European Financial Congress in Sopot, you took part in the discussion panel: Data is a New Oil. How do you understand this password?
Jarosław Królewski, creator and president of Synerise: The development of artificial intelligence, including drawing certain conclusions from the data in an automatic manner, released the power of this data. We are definitely in the process of a revolution, which has already been understood by the West, where access to information, generating it and predicting everything that is happening in the world is crucial. This, of course, also applies to financial markets or analysis of customer decisions. Without these tools, you can't just do this business. Geopolitics and a strong state cannot be built.
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Financial markets and algorithm plays
You were interested, you were looking at the data from which you could find out how much of the transactions on financial markets is carried out outside our consciousness, without human participation? How many capital flows are carried out only on the basis of algorithm game?
Personally, I approach all these reports very skeptical. Hedging funds or generally investors are reluctant to brag about their models. However, the financial industry is one of the more experienced when it comes to the so-called real-time trading with the use of artificial intelligence. What's more, large language models also help to understand the context, anticipate various types of events, and analyze market reports. Returning to your question, there are data according to which about 10-30 percent. Transactions on the capital market take place without human participation, but also those that say that it is already half of all operations. The autonomy of making decisions will grow, while understanding the specific conditions and moods of local markets will always be crucial, so we will see how artificial intelligence will deal with it.
The rest of the interview under the video material
However, it seems to me that at the end of the day these algorithms work on behalf of a specific man, an investor who defines the goals he intends to achieve on the market. Expects a specific rate of return in a specific time horizon.
The vision you have now presented is the so -called purpose function. Today we have some methods to achieve this. AI agents can collect information from various sources, communicate with each other and make investment decisions on this basis. A bit like in automatic advertising systems, where the marketer brings a budget that goes to the auction and fights for specific advertising spaces on the Internet. It will be the same on the financial transaction market. It will probably take a little longer before we get to this point, if only because of the need to develop the relevant legislative regulations, but this is really a very interesting discipline.
In your opinion, will it be a zero sum game, will everyone be able to win potentially? Or maybe only those who get the best access to the best technologies, the most advanced algorithms, tense with the best AI agents?
Certainly philosophical agonizing about who wins will not apply to the volume of the data we have. In my opinion, the power of algorithms in itself, i.e. the model itself and mathematical solutions, will be more important. In terms of results and effectiveness, LLM models will commoditize. The differences will make algorithms.
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The world is again. Basic income and more
You do not think that it is going in such a direction that thanks to mass applications AI, as people, as people we will be able to arrange a universal basic income, which will guarantee some living standard of living and remaining, and the remaining, probably a smaller part of the population, which will gain power over the best models, more powerful algorithms will become a privileged layer?
The subject of basic income will appear with the development of the LLMs for a reason. It concerns the labor market and what its segments will be winning. This is the subject of many debates led by global AI leaders with Sam Altman (head of the Opeli company, creator Chatagpt) at the forefront.
You just have to come up with this world again. Answer a lot of questions, for example, how pension systems are to work. Therefore, countries that invest the most in research and development on artificial intelligence can gain an advantage in various aspects of their activities, such as the quality of life of citizens, quality of jobs and the like.
Certainly the differences between the social layers will deepen. It will not be too different from what we have now. However, the way of building an advantage will change. While the authorities were once given to, for example, business people, the heirs of Fortun, people with connections or those acting through intuition, now Wajcha tilted to those who are in some disciplines wiser in what they do. I mean, among others, professors, the most talented programmers, etc. They will have the opportunity to design a new world.
Being very brutal for the last 100 years, they were lawyers, political scientists, sociologists, or noble born held some positions from generation to generation.
Does the world of old oligarchs end?
I hope that the new world will be more intelligent, based on the mind, on a meritocracy. I do not want to speak technocracy, but a meritocracy that will allow you to design societies better.
Artificial intelligence challenge for energy
There is also a matter of access to various resources. It is estimated that about 20 percent The energy consumed by all data processing centers consume AI algorithms, which according to various projections can double by the end of 2025. This madness?
Energy is one of the biggest problems in general. The truth is that we will have a problem with her in a moment. Another one will appear in connection with the demand for water. We have a lot of different challenges at the strategic level. I wonder how it will be resolved, because the appetite for AI is huge.
Meanwhile, it is important not to overdo it and simply do not go through technology. In my opinion, you will have to come up with new solutions, which also pushes the civilization forward. There will be some new forms of renewable energy, new energy recovery technologies, etc. That is why it is so important to correct key technologies.
Yes, it can only blow up the planet into space. She can not lift this revolution.
This is such an intellectual plant. Maybe it is worth investing in the development of the next 20 percent. Energy, because thanks to this, artificial intelligence will solve these problems, come up with new disciplines, new ways of solving problems. We don't know that.
And and human work – what will change?
I wanted to ask you what are you inspiring now? Have you recently found any interesting “Business Case” in the area, for example, data processing or using new tools for specific applications?
I have to praise the things we do in Synerise. We try to offer, for example, financial institutions models using the Potential of Real-Time AI. The point is, for example, that the bank understands the needs and capabilities of its client even better.
I really like all these solutions that combine the API of various solutions and you can leave them alone to come up with a ready strategy for you.
I recently heard the opinion of prof. Andrzej Dragan, who stated that AI would make the work of man difficult. Why? Simply artificial intelligence will take on simple, repetitive, boring things from us, and for you the most difficult work will be.
Andrzej is right in this aspect. Simple work will be taken away from man. However, I would go in a slightly different direction. More demanding work will be for a man who will solve more and more interesting puzzles. I deeply believe that the work of a new type of man will be more inspiring, more human.
