JPMorgan Adopts London Startup AI Tech To Power Smarter Trading

Debt dealing giant JPMorgan is looking to harness artificial intelligence (AI) to aid traders in their day-to-day work by making sense the masses of real-time data on the trading floor.

Using the data and machine learning program MSX, JPMorgan will not only look to make data analysis easier for traders but also use the smart software to attempt to predict where markets will go next.

Created by London-based tech startup Mosaic Smart Data, the programme has already been used by JPMorgan to help with its rates trading, and the company looks to be pushing AI technology further into its operations to identify patterns in the large amounts of data JPMorgan produces.

“Having a more holistic view of trading data will improve our service delivery for clients. The Mosaic platform integrates securely with our existing technology infrastructure, and enables our teams to quickly make better informed decisions,” said JPMorgan’s head of global macro trading, Troy Rohrbaugh.

And it would appear that JPMorgan has quite an appetite for adding cutting-edge technology into its company, especially as Mosaic Smart Data was supported through JPMorgan’s fintech startup development program in 2016.

“Data analytics and artificial intelligence are changing the face of investment banking. Banks understand that the insights locked away in their transaction and market data are potentially some of their biggest competitive advantages,” said Matthew Hodgson, CEO and founder of Mosaic Smart Data.

“They already have the raw materials, but MSX gives them the tools to aggregate and standardise that data and put it to work intelligently.”

While it is interesting to see a major company use AI within its business, it also further raises concerns as to whether smart and autonomous systems will replace human jobs; a topic which regularly divides opinion.