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Laxman Pai, Opalesque Asia:

The top 50 hedge fund traders are off to a great start in 2023 and their portfolios are set to surpass benchmark returns once again, said a survey.

The new analysis of the top 50 hedge funds conducted by Market Makers revealed that in 2023, nine out of ten hedge fund traders will use artificial intelligence to achieve portfolio returns.

As interest rates soar, even cash-rich investors are pulling back on risky human-powered trading and investing in AI, it said.

According to the report, using AI for analyzing trades has become increasingly commonplace at Jane Street, Barclays, HSBC, Apollo, Bridgewater & associates.

For the third year in a row, the top 50 traders collectively demonstrated asset managers, relying on a variety of strategies, generating net returns superseding average benchmarks with significantly less risk and performance that was largely independent of the market.

Microsoft's $1 billion investment into OpenAI may be one of the shrewdest bets in tech history. OpenAI released AI ChatGPT and is in discussions to raise capital at a $29 billion valuation according to Bloomberg.

"Even Google sees AI powered chatbots as a "code red" for its search business," says Market Makers VP of analytics Mike Andrews.

AI engineer Matt Forbes says, "AI has the potential to fundamentally change the way investing works, and could solve a lot of the problems that have caused investors to lose money in th......................

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