two-sigma-s-siegel-says-artificial-intelligence-lacks-smarts

#artificialintelligence 

David Siegel, a quantitative hedge fund pioneer, issued a warning to investors: Artificial intelligence lacks common sense. Siegel, who has used AI to build his Two Sigma Investments into a 37 billion hedge fund firm, said algorithms are limited by the scant amount of training data available to instruct them on how to identify everything from objects in images to trading opportunities. Hedge funds are embracing a form of AI called machine learning years after Two Sigma deployed the technology and as stock and bond pickers struggle to outperform markets. A unit of the firm, called Two Sigma Ventures, seeks to invest in companies focused on data science, machine learning, artificial intelligence and advanced hardware.

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