Meet The AI Who Wants To Replace Hedge Funds
EmmaAI is a new fund automated through advanced machine learning to help make intelligent bets on the market
As a rather large ripple in a wave of emerging tech startups entering financial markets, EmmaAI is a new fund automated through an advanced machine learning system. The machine’s creator, Shaunak Khire, draws clear distinctions between his product and those of hedge funds, noting that EmmaAI’s neural network takes into account a more complex set of variables which influence stocks. Often missed by other programs, these variables include items such as management changes or monetary policy in Europe, and are a testament to EmmaAI’s impressive capacity to digest and act on seemingly disparate tidbits of information.
“This is not algorithmic trading…This is literally replication of an analyst,” said Khire, who previously commissioned the AI to pick a handful of stocks six months ago, which have since yielded a growth of 30%. The startup is currently closing a private funding round, and we’re fairly sure EmmaAI will be putting the investments to good use.
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