The Voleon Group is part of a growing trend of funds dedicated to using AI to beat the market. The technology, which is also disrupting sectors like Hollywood and healthcare, is seen as a potential game-changer in finance. Michael Kharitonov, a veteran of the CERN nuclear research lab in Geneva, asserts that it's inevitable someone will achieve this goal, citing the success of AI in various domains.
Key takeaways:
- Voleon Group, a hedge fund with $5 billion in assets under management, is dedicated to creating AI that can teach itself to beat the market.
- The firm's CEO is a former nuclear physicist and web pioneer, and the company is strategically located near a world-class machine-learning center in Berkeley, California.
- Michael Kharitonov, a veteran of the CERN nuclear research lab, believes that despite unique challenges in finance, they can be overcome in time with AI.
- The use of AI in finance is part of a larger trend of AI disrupting various sectors, including Hollywood and health care.