FX: Why it’s bad to confuse AI with automation

Blurring the lines in foreign exchange between automation, traditional AI and generative AI runs the risk of undermining trading services by setting unrealistic expectations.

Automation involves rule-based systems executing predefined actions. Artificial intelligence, however, enables machines to learn from data and make decisions autonomously – something that can feel like overkill when it comes to executing simple, repetitive tasks.

According to Eugene Markman, COO of Ion Markets (FX), the financial services industry has started using the term generative artificial intelligence (GenAI) interchangeably with large language models, machine-learning tools and sophisticated automated workflows.

“Marketing AI and automation interchangeably could lead to confusion and misalignment of technological investments and expectations as the distinct functionalities and applications are misrepresented,” he says.

Access intelligence that drives action

To unlock this research, enter your email to log in or enquire about access