Hedge Funds Find It’s Really Hard to Beat the Market With AI (Correct)

Voleon Group boasts some of the best minds in data science. The hedge fund’s co-founder and chief executive officer is a former nuclear physicist and web pioneer. Its head office is in Berkeley, California, strategically placed near a world-class machine-learning center where it has access to the latest advances in artificial intelligence.

The firm, with some $5 billion in assets under management, is one of a growing number of funds dedicated to creating the ultimate money machine—AI that can teach itself to beat the market. With the technology threatening to disrupt Hollywood, health care and countless other sectors, sparking ...