AI Investing Bots Promising But Unproven, Caution Urged on Latest Tech Trends
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AI "trading bots" are promoted as giving lucrative returns but investors could lose money. About 1 in 3 would let a bot make all investment decisions.
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The head of the Investment Association says AI investing is not yet proven and investors should be cautious about the latest trends. Human investment managers still have a role.
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AI can't predict unexpected events like financial crises. It's only as good as the data and software from human programmers. Bad data can lead AI astray.
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Generative AI is powerful but prone to bias, inaccuracies, and security issues. It could produce false information.
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Some people trust computers more than humans to make objective decisions, but AI reflects human errors and may not cope well with unprecedented events.