Over half of fund managers are either taking a wait–and–see approach or have no interest in machine-learning and artificial intelligence (AI), according to a survey.
The research, carried out by information provider BarclayHedge, also found that a fifth of fund managers already use machine-learning and AI while an additional 16% are actively researching its utility.
“All types of businesses, from taxis to hotels to music, have been disrupted by technology and there’s a common perception that investing and trading will also be affected,” said Sol Waksman, president of BarclayHedge.
“That may be true but it’s going to take time for the shift to occur.”
London-based Man Group recently announced that it would expand the use of AI in a number of funds that manage a total of over $12 billion (€13.7 billion).
Eric Schmidt, the executive chairman of Google’s parent, Alphabet, recently told a group of hedge fund managers that in 50 years no trading will be done without computer assistance.
The BarclayHedge Survey of Fund Managers was conducted in August and received 93 replies.
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