...significant obstacles can impede a manager’s adoption of AI — obstacles that threaten to transform not only a manager’s investment processes, but its entire business. Thus many managers’ claims of adoption tend to be more aspirational than genuine. The evidence for these claims typically comes down to one of three things:
The inclusion of a new, nontraditional data set (typically some type of web scraping) into existing traditional, non-AI investment processes; the hiring of a “computer scientist” or “data scientist”; or the simple misappropriation of the term “machine learning” to include traditional quantitative processes.
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