Schwab CEO Says Investors Must Set Rules for AI Trading Agents

Charles Schwab is adding artificial intelligence tools for trade planning while restricting how outside agents reach customer accounts, as CEO Rick Wurster says clients must define the limits for automated trading. At Schwab’s Fall Business Update on Oct. 15 (ET; UTC date: Oct. 15), Wurster said the company was unlikely to provide its own algorithms or trading content for client strategies. “I think it’s a fool’s errand and could lead to a lot of trouble,” he said. Schwab is rolling out an AI capability to help clients consider strategies and make a plan. Wurster said client trading through large language models (LLMs) and application programming interfaces (APIs) had doubled in about six months as of Oct. 15. In an Oct. 16 interview (ET; UTC date: Oct.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to TokenPost.