Schmidt - Get Rich Automatically: Dream and Reality of Artificial Intelligence on the Stock Market

As a child, I tried to imagine how an intelligent machine would see the world. Ever since I saw movies about artificial intelligences (AIs) in my childhood, I have been fascinated by the idea of having a counterpart in a machine. I believe that AI will bring us the greatest revolution of the next century. And I definitely want to be part of it.

"Invest with AI now! Our automatic trading system generates an average return of 16 percent per month. Many have already become rich with it, and so can you. The system is easy to use, safe, and you can start right away with minimal investment. Since our system works for you at night, you can get rich while you sleep!"

You may have come across such promises on the Internet and wondered what was behind them. The promised returns are usually temptingly high. Isn't that a scam? Maybe you have heard of robo-advisors in reputable magazines, where they were rated quite well. Or maybe you belong to the professionals on the market, and your broker offers you AIs as support. What should you make of all this? Can it be reputable? Can AI do that? And if so, why doesn't everyone use it?

We use artificial intelligence when shopping online, translating texts, as a voice assistant for small tasks, and for enhancing photos. And in most cases, this technology works so well that we don't even notice. So why shouldn't we trust the machine when it comes to money?

Artificial intelligence has long since arrived in our everyday lives, and yet the greatest developments still lie ahead. The developments are happening at an incredible speed. Naturally, this technology is also taking its place in the financial industry. But where can you find reliable, trustworthy information? You will definitely find it on the Internet. But let's not kid ourselves: No provider really lets you look behind the scene. Most of what you will find on the Internet is advertising. If you want to know for sure, and if you want to see for yourself what you can make of the promises out there, this book is for you.

If you are a private investor and want to have a good and qualified insight into the technology, then I have written this book for you. If you deal with finance professionally and want to know what potential is still in the technology, then you will find a good start here. If you are a computer scientist and want to know what possibilities there are to implement AI for finance, you will discover basic concepts for linking the market and technology here.

This book provides a good insight into how the technology works and the market environment in which it can be used. You get an explanation of what makes trading on the world's exchanges so difficult and why humans and machines have strengths and difficulties in very different places. You'll be shown strategies for how a machine can deal with its own difficulties. And of course, we address the question of whether you can get rich in your sleep using AI, and what are smart strategies to use AI for your own investment.

The individual subsections are each very extensive, and this book is no substitute for a course of study. You will get a sound overview and a general introduction in this book. The aim is to show you the broad lines so that you can also assess new developments that will become public in the next few years.

This book presents the current state of research and attempts to show ways for its application. The development of the technology is still in its infancy, and assessments are always subject to a certain degree of uncertainty. If you want to actively participate in the deliberations, have questions or suggestions about this book, please feel free to contact me.

I wish you a lot of fun and enlightening moments with this book.

A word about the language in this book. As a reader, you may notice that everything is written in the generic masculine. Please don't let that bother you. I'm always in favor of sensitivity when it comes to other people's feelings, and I've tried various inclusive spellings. But somehow they tended to disrupt the flow of reading, and so in the end I used with the traditional spelling. In my mind, however, I am of course including everyone, and I would be delighted if you feel equally addressed. Thank you very much!

Samuel Schmidt