An HSBC survey found that 86% of affluent Indian investors are now using AI in their trading. That's the highest share of any country surveyed, above China, Singapore, and the US. Nearly half say AI tools are their primary source of investment ideas.
Most of them are using the same two or three chatbots. And a growing body of academic research has found that when millions of investors ask the same models the same questions, they get the same answers — and pile into the same stocks at the same time.
And it's already creating an effect in some markets that experts call "predictable, and less efficient".
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