AI in Algorithmic Trading: A Cybernetic and Ethical Perspective on Equality and Market Sustainability in the Thai Stock Market

AI-trading is contributing to a developing state of human cognitive alienation, as decision-making processes are increasingly outsourced to autonomous systems. This shifts responsibility and weakens ethical awareness in financial practices. While AI can democratize expertise, it may also reinforce inequality by granting significant advantages to those with superior access to data, speed, and infrastructure. In Thailand, this trend is reflectedin the declining participation of retail investors and the growing concentration of market share among brokerage firms, suggesting increasing systemic imbalances. Evidence from the Thai stock market indicates rising market concentration alongside the growth of AI-trading, particularly as reflected in the increasing dominance of a single brokerage firm. While causality cannot be definitively established, parallel trends suggest a potential association between AI-trading and structural concentration. Scenario analysis highlights both potential benefits, such as improved efficiency and liquidity, and risks, including reduced participation, unintended collusion, and systemic instability. These developments challenge assumptions of market efficiency and raise ethical concerns regarding cognitivealienation and the evolving role of human agency in financial decision-making