Application of Machine Learning/AI in Finance

[Piyush Kathuria]

Hey fellow geeks
This is my first thread, so please forgive me if I make a mistake.

I am planning to pursuit an MS in Machine Learning/Data Science field with focus on deep learning and AI next year. I am very interested in the financial markets and want to work for a financial company that is using AI/ML predictive models. I wanted to know if an MS in this field is enough get me a job in the top companies(provided it's from top universities).

Also, since people here are much more experienced than me, I'd also like to know whether data science models are currently being used by financial companies, and if yes, in what ways.

 

[yetanotherquant]

I wanted to know if an MS in this field is enough get me a job in the top companies(provided it's from top universities).

If you are going to pursuit an MSc in ML/DS you already have a BSc in quantitative science, haven't you?
Then it will be easier for you to understand that getting a job (esp. in a top company) is always a matter of chance (to some extent).
Writing an outstanding thesis and making a couple of internship will increase your chance.
Not being able to answer the question about your thesis will reduce it.
But still there is a lot of luck and randomness.

Also, since people here are much more experienced than me, I'd also like to know whether data science models are currently being used by financial companies, and if yes, in what ways.

In trading those who know do not speak. And those who speak (usually) do not know.
Unless you find a good mentor (which is very hard), prepare youself mentally to work out tones of papers and books, 99% of which is shit. Don't just read books and papers but do try to fit empirical data to the models (R is very helpful because all good models are implemented in R, if not, likely the model is not good).
Last but not least, do trade yourself (start with paper trading).

 

[rajanS]

I was told by a head market maker that machine Learning is just a fancy tool that really does t help in making money. You would be better off focusing your skills in statistics/data mining/selectively choosing courses in optimization/predictive modeling/optimal control etc