Past, Present, Future

Artificial Intelligence for Asset Management

AI is like teenage sex. Everyone talks about it. Nobody knows how to do it. But everyone thinks everyone else is doing it, so they claim they do it too.

Past, Present, Future

Artificial Intelligence for Asset Management

AI is like teenage sex. Everyone talks about it. Nobody knows how to do it. But everyone thinks everyone else is doing it, so they claim they do it too.

The State of AI

Warren Enskat AI App for Asset Management

Ways to go about Artificial Intelligence

  • Workshop/consulting project with an AI Leader

  • Boutique M&A or buy a stake in a company

  • Team liftout

  • Fund research or create partnership with a top AI university

  • Work with an AI Institute as a partner or investor

  • Hire AI leaders per project

Artificial Intelligence


Silicon Valley AI Startups, and how they sell to firms like Amazon, Google and Walmart
From $2.5B to $58B… Two Sigma’s AI Investment Strategy: Humans and Big Data Crowdsourcing
JP Morgan and AI: „This is not Pie-in-the-Sky Stuff“
BlackRock to Partner with Microsoft on Digital/Retirement; with Acorns on Next Gen Investors
Morgan Stanley hires
AI/Digital Execs,
announces AI/tech partnerships for financial advisors
Screen Shot 2019-01-11 at 11.29.34 AM
SEB Head of Emerging Tech becomes Group CIO after receiving Supernova award for Aida AI
How To Become (Remain) Asset Management CEO? Artificial Intelligence
How does the US Army deal with AI
How does the US Army deal with AI? RCO, AFC, AI Signals and PE firms
AQR Turning 20 and Showing an Open-Source Team Approach to Use Data Science and AI in Asset Management
Credit Suisse Data Science Team Leaves to Set up AI Shop, sees Google and Alibaba as the New Competition
Tech-focused Real Estate startup hires Microsoft AI head as CTO
Manulife/John Hancock and their “LOFTy” AI Ambitions –
now in Silicon Valley
Google Maps AR Mode – Welcome to the AI Future
Foot Locker’s Pivot to Data Science and AI
Brevan Howard Appoints Head of AI Driven Systematic Investments
Amazon R2D2-esque AI Bot, Scout, Starting Deliveries in Washington

Countries and the fight for AI supremacy

US & Canada

  • DARPA/AFC/SRI/Xerox Parc
  • 100-Year-Study on AI / AI Index
  • MILA / CIFAR / Vector Institute


Israeli Defense Force
Unit 8200
Government of Israel
Waze / Startup Nation
Technion Israel Institute of Technology


  • New Generation AI Development Plan
  • BATX
  • Robotics Industry Development Plan
  • Artificial Intelligence 2.0

Europe & UK

European Union AI Project
Silicon Fen
Cyber Valley
Max Planck Institute for Intelligent Systems

Artificial Intelligence in Asset Management

Recent Hiring and M&A Activity

Uber lifts out team of 50 from Carnegie Mellon
Facebook takes NYU and IBM Big Data Lab teams for FAIR
Fidelity Labs/TedX Boston / NVIDIA supercomputer

Samsung opens US/Canada/UK/Russia AI labs with new teams

Poaches Andrew Blake from MS Cambridge and Larry Heck from Google, among many others, with a targeted headcount of 1,000 AI researchers by 2020

Microsoft has ‘Holoportation’ to holoport families and coworkers
Accenture buys Intrigo Systems (digital supply chain), MindTribe, PillarTechnolgoy, Certus Solutions (oracle cloud caps), Clearhead (personalize digital tools)
Headspace buys (voice apps)
PayPal buys Jetlore (predictive AI retail)
Baidu buys Kitt.AI

Citadel hires Microsoft Chief AI Scientist

Li Deng joined Microsoft 17 years ago out of academia, and now will build the AI opportunities for the hedge fund in Seattle, NY and Chicago; Deng authored six technical books on deep learning, speech processing, discriminative ML and NLP. Same as DE Shaw/Pedro Domingos; Morgan Stanley/Michael Kearns

Facebook hires JP Morgan Head of ML
Bloomberg hires Google leader as head of Data Science

RenTech lifts out IBM Team

$28b IBM pension plan; Mercer/Brown; “what do computational linguists know about running money?”; team of 9 left

Blackrock sets up Palo Alto AI Lab, Tech 2020
Man hires ML head with a focus on ‘Quantamental’, consults with Duke
Bridgewater takes IBM Watson head to lead ‘Systemized Intelligence Lab’
JPM creates COIN to save 360,000 billable legal hours
Samsung buys Zhilabs (5G real-time intelligence network)

Compass RE startup hires Microsoft AI Head as CTO

Joseph Sirosh is new CTO to lead the engineering team for AI-powered products; founded in 2012, Compass has $4.4 billion valuation, with $400m from Softbank and QIA last quarter; Founders Ori Allon (Twitter/Google); Robert Reffkin (McKinsey/GS); Ugo di Girolamo (Twitter/GE Homeland Security); COO Priceline; CFO Carlyle; CMO Spotify; nobody with real estate experience

Facebook buys Team Ozlo, Bloomsbury AI
AQR hires Facebook AI Head
Cognizant hires 30-year IBM veteran as Head of AI
Barclays hires Chief data scientist from BuzzFeed
Millennium hires Head of Data Science from Point 72
Amazon takes academic team to lead Cambridge effort
JPM takes AI leaders from Carnegie, Google,
Cerberus creates CAIO role, takes from JPM/GS
State Street creates ML/NLP Quantextual Idea Lab, Project Beacon

Point72 lifts out CIA AI team, creates

Matt Granade from Bridgewater; In-Q-Tel/CIA VC fund team liftout for Palo Alto AI lab (Daniel Gwak/Sri Chandrasekar); early stage big data/ML companies; AI investing as a new asset class

BioNyfiken, embeds RFID chips into workers, Chief Disruption Officer
Intel buys (plaidML open source project)
Moneyfarm buys Ernest (personal finance chat bot)
Verizon buys Niddel (ML threat detection)
Manulife in AI partnership with University of Waterloo
Millennium hires Head of Data Science from Point 72

Credit Suisse looses Head of Data Science & team (set up AI company)

Johnathan Wilmot (30 year CS veteran, head of macro investing) and Aric Whitewood (Head of Data Science) and his team left CS to set up WilmotML, with the promise to use AI and macro risk awareness for advisory and investment products

ThirdPoint takes WorldQuant PM as Chief Data Scientist, with $2m pay
Bezos gives $2m to fund UW ML professorships

Apple buys Siri from Stanford Research Institute

SRI International 2007 spin-out (1 of 66); tech (sophisticated ML including convolutional neural networks and long-short-term memory) was created by Nuance with SRI/Lausanne University JV prototype, Didier Guzzoni’s PhD thesis; joined as chief scientist for Siri when Apple bought it in 2010 and released it in 2011

Morgan Stanley hires UPenn/SAC/Bell Labs has Head of AI
Dubai tests Volocopters (former Daimler team), 25% traffic by 2030
LinkedIn buys Glint (employment engagement system)
Microsoft buys GitHub ($7.5b, dev platform), Bonsai (AI startup), Semantic Machines,
Qualcomm buys Scyfer
BATX in China backs 50% of AI startups

Baidu (AI), Alibaba (Didi former Alibaba exec), Tencent (WeChat 1 b users), Xiaomi (IoT, smart homes/wearables); $1T+ market cap, 1,000 new ventures funded in last decade, 50% average annual growth;

NN Investment Partners hires Head of Automated Intelligence Investing
MILA hires chief talent officer from Cirque de Soleil as CEO
S&P takes Reuters exec to become Head of AI and Data Science
Target hires Principal AI Scientist (ex Baidu, Google, Carnegie Mellon)
Baillie Gifford gives $5m to fund Uni of Edinburgh AI ethics chair
Baillie Gifford gives $5m to fund Uni of Edinburgh AI ethics chair
Goldman takes Amazon AI leader, starts Data as a Client Service
WinSun 3D prints 10 houses in 10 hours, including a 12,000 sf mansion
NVIDIA starts “I am AI” campaign
Google buys Onward (advanced chat bots), AImatter (photo AI),
Amazon buys Pillback ($1b, online pharmacy), Game Sparks, Ring ($1b, smart doorbells), Blink (camera chips), Sqrrl (advanced threat detection), Blink, Whole Foods, BodyLabs, (cloud security), GraphIQ, Souq (UAE eCommerce),
Two Sigma hires Harvard Neuroscientist as Chief of Staff
HSBC hires global CTO from GoDaddy
Two Sigma hires Google Brain Lead
Nordea creates AI credit team

Intel buys Nervana for AI chips (ex-Qualcomm, CIA funded)

$408m for 48 people startup; lead by Qualcomm Researcher Naveen Rao with $25m from In-Q-Tel in venture funding and contracts; access to tech with Intel deal

Key Takeaways

  • Start Small or Start Big but Start NOW

  • Find the Best People to Own and Lead YOUR AI

  • Create a Daily AI Routine for You and Your Teams

  • 0%
    of asset management companies have not sufficiently integrated Artificial Intelligence into their business.

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