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Amid $90 million 'A' raise, 33 Google executives join two Google CEOs and 140 VC investors to launch 'kickass' robo, pitching AI, performance fees and private equity to accredited investors

Wealth technology experts have doubts that even a transplanted Google AI super brain will ask the correct right-brained questions, but they also see promise in a no-brainer VC distribution pipeline.

Author Oisin Breen November 24, 2022 at 2:07 AM
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Caesar Sengupta: AI is a buzzword, and often misused, however Arta uses tech and humans where appropriate.
Brooke Southall and Keith Girard contributed to the editing of this article.




Iraklis Kourtidis

Iraklis Kourtidis

November 26, 2022 — 6:32 AM
My quote sounds a bit snappy; I was not specifically talking about this company. I just find that AI and machine learning are often cart-before-the-horse-y. I once spoke with a sovereign investment fund looking to invest in AI-related fintech - but why should the approach matter more than the problem? "Blockchain" is even worse. In my opinion, AI is good for patterns (recognition, classification, etc.), especially when structured approaches (such as rules) can't be used. For example, I can see alpha generation benefiting - although if anyone could do this, they'd be prop trading instead. I don't understand how managing a portfolio day-to-day can utilize AI, let alone need it. Disclaimer: I didn't understand how exactly they would apply AI, and I'm not an AI expert, although I studied computer science, dabbled in early forms of this stuff, and currently write code for a living. Coincidentally, two days ago I met up with my Harvard operating systems professor who told me I could call our optimization approach "interpretable AI". Best marketing advice ever!

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