Good Question!

Nearly all successful Forex traders utilize trading software to increase their chance of profit in the FX market. Trading software improves one’s abilities by providing error-free statistics and unbiased analysis. The limits of AI technology are by far outweighed by the impressive benefits that it brings you.

Limitations:

AI is set to execute at a certain parameter and cannot recognize certain extreme situations like market crashes. It is also prone to different facets of humans interceding in the market with ideas like insider trading.

Others claim that AI cannot recognize patterns as well as humans. Since AI is taught to react a certain way when faced with situation A, it is unable to see certain patterns that a human eye can catch. However, this is debated as AI uses numbers and statistics to detect patterns instead of the human eye.

Benefits:

AI is real time. It does not take time to transfer signals and can provide analysis in real time for traders to execute upon.

AI provides accurate statistical analysis backed by historical data and trends every time. It barres human errors. It is also unbiased which prevents human emotion or misconceptions to mislead them. For example, if a trader has lost money consistently on a currency pair, he might be more inclined to stay away from that currency pair even if the opportunity presents itself. AI is not affected by the past and is always objective toward any market.