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Hedge funder Brian Kelly built Bracket22 to be powered entirely by AI
CNBC • • business
Key Points:
- Hedge-fund manager Brian Kelly has significantly reduced his payroll costs from about $5 million annually to $30,000-$40,000 by using agentic artificial intelligence to run his new trading firm, Bracket22.
- Bracket22 operates entirely with AI agents specializing in different roles, such as technical analysis and quantitative strategies, allowing Kelly to manage cryptocurrency, stock, and commodity trades with minimal human staff.
- Kelly estimates his productivity has increased at least tenfold by leveraging AI, emphasizing that the technology's true potential lies in augmenting rather than fully replacing human workers.
- The use of AI in finance is gaining traction on Wall Street, with major firms like JPMorgan Chase and Morgan Stanley integrating AI agents, though some industry leaders caution against overreliance on AI eroding human judgment.
- Kelly’s approach highlights a broader trend of AI transforming financial services by enabling smaller teams to operate with the efficiency and scale of much larger workforces.
