How AI Will Invade Every Corner of Wall Street

It was AI versus Warren Buffett. The artificial intelligence was unleashed by Winton, the London hedge fund, to test an old principle of the Berkshire Hathaway Inc. chairman with a view to trading on it: that major acquisitions usually hurt the buyers' shareholders. Researchers collected and analyzed data on almost 9,000 U.S. deals back to the 1960s. Winton says Buffett's thesis doesn't hold up -- big acquisitions don't inherently destroy value. "It prevented us from trading on a false signal and potentially losing money," said Daniel Mitchell, who runs a team of data scientists at the $30 billion hedge fund.