Bracket22 Powered by AI: Kelly's $5 Million Payroll Cuts to $30K
Brian Kelly, a hedge fund manager and former trader on CNBC's 'Fast Money', has created a trading firm called Bracket22 that is powered entirely by agentic artificial intelligence.
Kelly used to have a staff of seven or eight employees around the world, with labor-related costs totaling $5 million per year. However, after adopting AI, his payroll costs are now around $30,000 to $40,000 per year.
The firm invests only Kelly's own capital and trades in cryptocurrencies, stocks, and commodities. Bracket22 uses three AI agents: 'Steffi' for technical analysis, 'Desmond' for quantitative strategies, and 'Houston', which serves as mission control.
Kelly believes that AI can augment human workforces, rather than simply replacing them. He estimates that with the help of AI, he is at least 10 times more productive than before.