When human beings falter, try a machine. That seems to be the approach at Standard Life Aberdeen, which is turning to artificial intelligence to run a new investment fund that it hopes will grow into a $10 billion blockbuster. The investment manager has announced plans for the use of machine-learning to identify which shares to buy. There will be no human input or an override function for its decisions. Standard Life Aberdeen is a Scottish-based investment company formed via the merger of two industry heavyweights, Standard Life and Aberdeen Asset Management, last year. It is listed on the FTSE 100. Its shares have fallen by 25 per cent this year, while clients have defected because of its relatively poor stockpicking performance. Customers pulled a net
Standard Life Aberdeen has turned to AI to help run a new investment fund with a goal of reaching $10b in assets. Using machine learning, the investment manager hopes that the AI will be able to effectively identify the shares in which it should invest. Standard Life Aberdeen will have no capacity to override the machine or make its investment decisions.