Billionaires Back AI Investing Startup

Hi, I'm Matt. Welcome back to AI Street, your weekly brief on AI + finance. The Rundown:

• Will AI Bridge Wall Street’s Quant Divide?

• Interview: Ex-Googler Yagnik on building Arta Finance

• Billionaires Back AI-research startup

• AI market moves

• Smaller businesses leading AI adoption

• 🎃 Happy Halloween: AI zombies with immortal Paychecks

INVESTING Will AI Bridge the Wall Street Quant Divide?

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When I started this newsletter, I initially thought that AI and large language models would likely help quantitative investors further distance themselves from discretionary investors. But after speaking with Peter Hafez, Chief Data Scientist at RavenPack, I’m starting to change my mind.

The Quant-Discretionary Divide

Over the past decade, quantitative strategies have continued to grow in part with faster computing. These strategies require specialized skills to create complex algorithms to scan millions of data points. While more traditional, discretionary money managers rely more on human an…