Recently, the AlgoFox community conducted a poll to find out whether traders use ChatGPT or similar AI tools for algorithmic trading. We compared the current poll results with those from a similar survey conducted a year ago.

first poll

Poll Results from a Year Ago

  • 4% - Yes, I use it exclusively for algo trading
  • 8% - Yes, I use it for algo trading and other tasks
  • 13% - I use it for other tasks
  • 18% - No, but I plan to
  • 4% - No, but I plan to for other tasks
  • 34% - No, I havenโ€™t figured out how it can be useful yet
  • 19% - No, I wonโ€™t use it

second poll

Current Poll Results

  • 1% - Yes, I use it exclusively for algo trading
  • 22% - Yes, I use it for algo trading and other tasks
  • 21% - I use it for other tasks
  • 10% - No, but I plan to
  • 6% - No, but I plan to for other tasks
  • 19% - No, I havenโ€™t figured out how it can be useful yet
  • 21% - No, I wonโ€™t use it

Analysis of Results

The comparison shows significant changes in AI usage for algorithmic trading:

  1. The percentage of those using AI exclusively for algo trading decreased from 4% to 1%.
  2. The number of traders using AI for algo trading and other tasks increased from 8% to 22%, indicating growing interest in multifunctional AI usage.
  3. The total number of AI users for any tasks increased from 13% to 21%.
  4. The percentage of those planning to use AI decreased, which may indicate that many have already started applying AI tools in their work.

These data show that interest in using AI for algorithmic trading is growing. Traders are increasingly recognizing the advantages that such tools can provide and are actively integrating them into their work.

Source: AlgoFox