Investor Sues Company Over Artificial Intelligence Advice - My TechDecisions

Decision makers are becoming more wary about certain uses of AI, including trusting solutions to make money for them. When things go wrong and losses are up, it's tough to know who's responsible – the machine, or the person behind the machine. Bloomberg reports on a recent example of this, where an investor is suing for damages after losing money based on the decisions made by a money management solution. According to Bloomberg, back in 2017, investor Samathur Li Kin-kan bought into a money management AI solution that another investor, Raffaele Costa, planned on using to mange the money made by his company, Tyndaris. "The idea of a fully automated money manager inspired Li instantly," driving him to invest in the solution to grow his own money – $2.5 billion- $250 million worth.