Artificial intelligence could one day spell the end for Wall Street’s brightest stock analysts, according to Alibaba (BABA) chairman Joe Tsai, who said the company is poised to benefit from rapidly evolving AI technology.
His comments at CNBC’s CONVERGE LIVE event in Singapore come in the wake of TipRanks launching Spark, the world’s first and most comprehensive AI Stock Analyst.
For Tsai, there is obviously an opportunity for AI to do things that humans cannot, in fields like research and law. “Equity research analysts can be completely replaced … you can ask it to put together a report on Nvidia (NVDA) or Apple (AAPL), and it’ll do a great job,” he told CNBC’s David Faber.
But Tsai was keen to stress that AI won’t fully replace human stock market research, only “enhance the quality of the work.” He suggested that machines could do more “mundane” work and humans can apply their judgment…
