Machine learning is now used in Wall Street dealmaking

Image: iStockphoto/agsandrew

Machine learning is now used in Wall Street dealmaking, and bankers should probably be worried

It has been said that Wall Street dealmaking is more art than science. That could be changing. JPMorgan, which is spending big on technology as it looks to cut costs and increase efficiency, last year launched a predictive recommendation engine to identify those clients which should issue or sell equity.