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Alternative Market Briefing

Emma AI wants to outsmart hedge funds

Monday, August 08, 2016

Komfie Manalo, Opalesque Asia for New Managers:

The Silicon Valley is creeping into Wall Street.

Shaunak Khire has developed a new machine intelligence system called Emma AI with the aim of starting a new fund designed to outsmart humans and computers that trade on stocks, reported Recode. Khire said that Emma AI would be better than current finance computers because of its ability to take into account more complex set of factors when trading stocks.

The new system, unlike other high-frequency trading and "quant" data sciences, would be capable of handling complex management changes or monitory rules in other regions that existing systems often miss, he said.

Khire stated, "This is not algorithmic trading. This is literally replication of an analyst."

He said that Emma AI will begin trading stocks from pharmaceutical company GSK, as well as Tesla and U.S. Treasury bonds.

Hedge funds increase quantitative knowledge

Wall Street is not new to using computers to trade. Several hedge fund startups have used AI to bolster their financial trade, including Aidyia, led by eccentric roboticist Ben Goertzel, and Sentient AI, which has raised a considerable amount of money to hire top-notch engineers from IBM and Apple.

Last week, big hedge funds including Balyasny ......................

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