Hedge-Fund Manager Launches Firm Powered Entirely by AI Agents
Brian Kelly, a hedge-fund manager and former trader on CNBC's 'Fast Money,' has launched Bracket22, a trading firm powered entirely by artificial intelligence agents. He claims the use of AI has drastically reduced his operational costs—from around $5 million annually to just $30,000–$40,000 per year—while significantly increasing productivity. Kelly's new approach involves multiple specialized AI bots such as 'Steffi' for technical analysis and 'Desmond' for quantitative strategies. He emphasizes that while the final decisions are still made by him using human judgment, these agents enhance his ability to analyze data efficiently around the clock without traditional labor costs or limitations. This shift reflects a broader trend in finance where major institutions like JPMorgan Chase and Morgan Stanley are also exploring AI's potential for autonomous work. However, concerns remain about over-reliance on AI eroding human reasoning skills.
Topics: AI cost reduction hedge funds productivity Wall Street