AllianceBernstein's virtual assistant "Abbie" can now suggest the best bonds to buy and sell based on price, ease-of-trading and risk.
“Humans and machines will need to work closer than ever to find liquidity, trade faster and handle risks,” said Skoglund. “Our hope is that we grow and use people in ways that are more efficient and better leverage their skills.” Abbie already supports more than 60 percent of AllianceBernstein’s fixed-income trades. The upgraded version will target U.S. high-yield and investment-grade bonds initially and expand to other markets in coming months, he said. The $550 billion asset manager will still rely on humans to make the final decisions and execute trades.