This episode explores how Walleye, a hedge fund with close to $10 billion AUM, is integrating AI across its operations, driven by CEO Will England's conviction that AI is crucial for future success in finance. England emphasizes that using AI tools like ChatGPT isn't cheating but a necessity for gaining a competitive edge, comparing it to adopting the internet in 1995. Against the backdrop of Walleye's existing quantitative trading business, which has used advanced statistics for years, the firm is now focused on making AI accessible to non-technical employees and building internal AI tools. More significantly, England highlights the importance of leading by example, mandating AI training for all employees and fostering a culture where experimentation and even imperfect AI demos are encouraged. As the discussion pivoted to practical applications, England detailed how AI is used for analyzing unstructured data, enhancing fundamental investing, and improving internal communications, noting that recording and processing internal data is key to unlocking further AI-driven insights. This initiative reflects an emerging industry pattern where firms are racing to leverage AI for information advantage, but England stresses that human intuition and first principles remain essential for making sound investment decisions.
