J.P. Morgan’s quantitative investing and derivatives strategy team issued the most comprehensive report ever on big data and machine learning in financial services. Titled “Big Data and AI Strategies” and subheaded, “Machine Learning and Alternative Data Approach to Investing,” the report says that machine learning will become crucial to the future functioning of markets. Analysts, portfolio managers, traders and chief investment officers all need to become familiar with machine learning techniques.

Law firms trying to understand and serve banking and financial market clients should also monitor the trend.