ING is starting to use artificial intelligence to price currencies, replacing a job traditionally performed manually by the bank’s traders. The move is the latest in a race by banks to develop the most cutting-edge technology to reduce expenses and be competitive in the $7.5 trillion-a-day global currency market. The next frontier is developing AI, which promises to increase efficiency and reduce the number of traders banks need to employ. Simon Bevan, ING’s global head of electronic trading joined Caroline Hepker and Tom Mackenzie on Bloomberg Radio with the details.
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