Artificial intelligence is already working to improve people’s lives in a variety of ways. It’s being used by a vast number of people in the trading industry, and there’s no doubt that it’s helping to level the playing field.
In the past, people who wanted to exchange stocks and currencies needed a wealth of expertise to do it successfully. Nowadays, AI tools are opening the market up to a much broader range of people by providing sound advice about how and when to trade.
The Internet Has Already Made Trading More Accessible
Even before AI came along, trading had become a much more open market around the world thanks to the internet. After the online world boomed, everyday people suddenly had access to a vast amount of knowledge and information about how to get involved with the industry. Before this, it was much more difficult, and people who wanted to invest usually needed to go through brokers.
One of the best things about the internet is the fact that investors can see all the information they need in a matter of seconds. The US Dollar Index is the foundation of trading, as it tracks the strength of the dollar against a basket of major currencies. It’s easy to have a detailed look at charts and projections of the DXY, and then use this to inform decisions about where and when to invest.
This can be useful for both currency and stock traders, as the strength of the dollar can have an impact on shares of massive companies too. For instance, companies like Apple and Microsoft, which have huge international sales bases, can see huge swings in valuation depending on the value of the US dollar.
AI Is Taking This Accessibility to the Next Level
AI has already begun to permeate the trading sphere, and it’s taking the accessibility of the industry to whole new levels. The most groundbreaking move so far has been the introduction of automation and algorithmic trading, which have made complex processes simple to laypeople. The algorithmic trading market is set to be worth $18.8 billion by 2024, highlighting just how much the influence of this technology is growing.
Along with helping aspiring traders get a handle on the market and know where and when they need to invest, AI tools can also improve efficiency and accuracy. In the past, beginners could turn to expert advice on how to invest. Now, AI provides much more accurate predictions thanks to the fact that it can analyze a massive amount of data to identify patterns. According to reports, more than half of institutional investors are already conceding that AI is able to make better decisions. They believe that the industry will rely more heavily on the tech over the next decade.
With AI tools now readily available to everyone with the internet, it’s easier than ever to get into trading. Now, people don’t need to have any knowledge or do any research of their own to be able to make successful trades.
