Silicon Valley hedge fund takes on Wall Street with AI trader

New York

BABAK Hodjat believes humans are too emotional for the stock market. So he's started one of the first hedge funds run completely by artificial intelligence (AI).

"Humans have bias and sensitivities, conscious and unconscious," says Mr Hodjat, a computer scientist who helped lay the groundwork for Apple's Siri. "It's well documented we humans make mistakes. For me, it's scarier to be relying on those human-based intuitions and justifications than relying on purely what the data and statistics are telling you."

Mr Hodjat, with 21 patents to his name, is co-founder and top scientist of Sentient Technologies Inc, a start-up t…