(Bloomberg) JPMorgan Chase & Co. is pushing its use of artificial intelligence beyond investment banking and into hedge funds. The bank’s asset management arm is planning a strategy to invest in emerging and established machine-learning statistical-arbitrage hedge funds, according to a person familiar with the matter. The vehicle — dubbed for now the Machine Learning Fund Ltd. — will operate within JPMorgan’s $15 billion fund-of-hedge funds business, according to June 20 regulatory filings.
JP Morgan Commits Hedge Fund to AI in Technology Arms Race
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