The AI forecast: New division of labor -- Making technology work for us - Nikkei Asian Review

Among the various products offered by Mitsubishi UFJ Kokusai Asset Management is AI Japan Equity Open, an investment trust launched at the beginning of February. As of March 31 it had attracted total investor assets of 10.7 billion yen ($98 million). Asked why it is selling so well, director Hideo Shirota said, "Many investors want their assets handled based on objective judgment rather than the professional sense of a fund manager." The company receives advice about the selection and timing of equity trades from Mitsubishi UFJ Trust Banking, where chief fund manager Noriyuki Okamoto, a man of over 20 years experience, and moreover, an artificial intelligence system are the brains behind the product. Arriving at the company's Tokyo head office at 8 every morning, he turns on his computer to read an AI-generated report on which equity prices will likely rise and the best timing to sell index futures.