Another AI startup wants to replace hedge funds

Dear, Wall Street: Silicon Valley is increasingly coming for you. A machine intelligence system, dubbed Emma AI, is starting a fund that hopes to outsmart the humans and computers that make a living trading stocks. It's part of a wave of tech startups aiming advanced machine learning at financial markets. Automation is not new to Wall Street. But Shaunak Khire, Emma's creator, claims his system differs from current finance computing -- high-frequency trading and "quant" data science -- because its system of neural nets takes into account a more complex set of factors affecting stocks, like management changes or monetary policy in Europe, that other programs miss.