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Simon Russell


How to Optimally Integrate Human and Machine Investment Decision-Making

Publisher: Simon Christopher Russell at Trustee for the BCF Consulting Services Trust

Publication: October 24, 2017

Nr of Pages: 154


What can asset managers learn from Deep Blue’s triumph at chess, or from Watson’s victory at Jeopardy, or AlphaGo’s win at Go, or from machine learning’s success at language translation, or from the analysis of Google search terms to predict the spread of the flu? What do these examples from the rapidly evolving world of artificial intelligence teach us that is relevant for an analyst forecasting corporate earnings, or for an asset manager’s strategy team deciding which new product to launch, or for their HR manager thinking about what skills to recruit for, or for a client engagement team seeking to influence prospective clients?

In a world of powerful algorithms and intelligent robots, of passive and factor-based strategies, what is the future role for humans in the investment management industry?

This book leverages unique insights into the strengths and weaknesses of professional investment decision-making that have been gained from the author’s role as a specialist behavioural finance consultant and trainer. By combining concepts from behavioural finance and artificial intelligence this book identifies ways investment professionals can create “cyborgs” decision-making processes that integrate individual, team and machine thinking. When designed appropriately, cyborgs can perform better than humans or machines alone. With cyborg decision-making, improved risk-adjusted returns, greater client engagement, and more sustainable value propositions are possible.


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