The article below cites Marcos Lopez de Prado as saying that crowd-sourcing the problem to thousands of data scientist is the way of the future. Do you agree with the premise of this article?
Under the "old paradigm" investment managers each hired their own siloed teams of researchers with specific finance knowledge, said Lopez de Prado. However, these in-house teams were hard to staff - very few quants combined the"domain knowledge" and quant expertise necessary to tackle finance data sets. “Consequently many complex investment opportunities were not arbitraged or exploited,” said Lopez de Prado, pointing out that only 0.65% of articles in key economic journals contain terms related to artificial intelligence.
Faced with a dearth of finance quants, Lopez de Prado said finance firms have innovated. Instead of hiring their own quant finance teams who understand the market, buy-side firms are increasingly inviting quants of all backgrounds to compete in tournaments aimed at deriving forecasts from large generic-seeming data sets.