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Terr_ 17 hours ago [-]
I must admit, "I agree with Charles Schwab's CEO" was not a statement I expected to make any time soon.
The most potential utility for this stuff goes to people who already try to time-the-market and do daily trades etc. The people who will also suffer and scream the loudest when the LLM does something "wrong." In contrast, if you have a couple index-funds, all you really need is a slow trickle in, and that's easy to automate and much lower-stakes. More-complicated decisions are rare and don't require "agents."
That said, I'm sure Schwab Inc. also wants to retain "our staff can help you" fees.
The most potential utility for this stuff goes to people who already try to time-the-market and do daily trades etc. The people who will also suffer and scream the loudest when the LLM does something "wrong." In contrast, if you have a couple index-funds, all you really need is a slow trickle in, and that's easy to automate and much lower-stakes. More-complicated decisions are rare and don't require "agents."
That said, I'm sure Schwab Inc. also wants to retain "our staff can help you" fees.