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Opalesque Roundup: Hedge funds increasingly use alternative data to detect emerging trends: hedge fund news, week 34

In the week ending 18 August, 2017, in FinTech, hedge funds are increasingly using "alternative data" data to detect emerging trends; Baillie Gifford has launched a project exploring how to harness artificial intelligence to improve the performance of its funds; bitcoin's skyrocketing price is showing no signs of slowing, currently trading for over $4,100 a coin; nvestment firm VanEck calls bitcoin a 'fad,' and then files for bitcoin ETF - an example of the widespread ambiguity around cryptocurrencies. Ethereum has set a new transaction record, outperforming bitcoin; artificial intelligence is likely to make a career in finance, medicine or law a lot less lucrative; but fund managers fiercely deny that AI threatens jobs

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