Artificial Intelligence Investing bubble?
The omnipotent mythology surrounding artificial intelligence and machine learning, particularly as it relates to investing and trading, is the real bubble that needs to be burst. Such are messages from two of the quantitative trading world’s brightest minds. Speaking at the Bloomberg Markets Most Influential Summit Wednesday, David Siegel, founder of the $37 billion Two Sigma Investments, warned the audience that artificial intelligence lacks common sense. Seven days ago Ewan Kirk, founder of the $4.5 billion Cantab Capital Partners and an original managed futures CTA pioneer, penned an influential piece in Institutional Investor titled “Beneath the Sizzle of Artificial Intelligence.” His advice to investors was clear: buy the steak, not the sizzle.
