How good is artificial intelligence at managing money? To judge by the recent performance of some AI-driven strategies, it doesn't look like the robots are going to take over from the humans any time soon.

In August 2018, a quantitative team at Aberdeen Standard Investments started a $US10 million Artificial Intelligence Global Equity Fund, betting that an algorithm can be more effective at figuring out the complex world of factor investing than a human portfolio manager. A year later, the fund had underperformed the broader sharemarket's powerful rally, and its assets had grown only 8 per cent. Institutional investors say they'll hold off committing money until they see a longer track record.

Washington Post