One billion data points, processes, he faster than you can boil a cup of coffee. Now you have the Wall Street accustomed to cheap AI takes over.
One million lines, a million columns and a billion entered data points. Luckily trying Braxton McKee did not do anything with the data in Excel. Instead he was the tool through the cloud with software he created that learns while working, a type of AI (Artificial Intelligence) we will see more and more of Wall Street. The cost of McKees calculations? $ 10. This writes Bloomberg.
McKee is just one of the programmers and mathematicians who now takes over Wall Street. With the help of AI and cloud services can now use enormous amounts Datar without the need to be expensive. Something that obviously makes it possible to challenge all investment banks.
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Hedge funds Renissance Technologies and technology giants like Google have used the software learns, then the AI, for several years. Now use the company Ufora, founded by McKee in 2011, cloud services to make the technology so cheap that many more could use them.
Bloomberg estimates that five years ago had the calculations McKee now makes taking months of coding through and has cost over a million dollars in hardware. Now use McKee instead of Amazon Web Services, a cloud service that makes him do not need any expensive hardware. His goal is that all calculations are faster than the time it takes for him to go to the kitchen, boil some coffee, and come back to the desktop.
McKees Ufora are not alone in the market, the AI startups awash Now with money from venture capitalists. 2013 invested $ 75 million in industry startups – and 2014 it grew neglects sharply to over $ 300 million.
Wall Street means companies Ufora that smaller contenders also make heavy technical analysis, to process large amounts of data plötligt became both cheaper and faster.
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