#AInews – Artificial Intelligence Gets Real for Investors: A Timeline

By Innevation Center 2 years ago
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AI’s use by hedge funds comes after decades of innovation, including beating a Go champion, navigating driverless cars, and making money for investors. Over the years AI has sought to become what we see, hear and breathe – bringing aspects of real life to the future. However, it is the road in front of us that has shown more potential for AI than ever before. This timeline is part of a series on the future of AI investment.  

1950: Alan Turing developed the Turing Test for recognizing machine intelligence

1956: John McCarthy coins “artificial intelligence” at Dartmouth College conference

1957: Invention of Perceptron, an algorithm that could be trained to classify images

1964: Computers understand natural language enough to solve algebra word problems

1968: Stanley Kubrick’s 2001: A Space Odyssey features intelligent computer HAL 9000

The lens of HAL’s ’eye’ in 2001: A SPACE ODYSSEY.Photographer: Mary Evans/MGM via Everett Collection

1979: The Stanford Cart, an autonomous vehicle, navigates across a room full of obstacles

1982: James Simons starts quant investment firm Renaissance Technologies

1988: David Shaw founds D.E. Shaw, an early AI adopter among hedge funds

1990s: AI advances in machine learning, case-based reasoning, data mining, virtual reality

1997: IBM computer Deep Blue beats world chess champion Garry Kasparov

World Chess Champion Garry Kasparov makes a move during his fourth game against the IBM Deep Blue on May 7, 1997.

1990s: Web crawlers, other AI-based information programs, become Internet mainstays

1999: Sony AIBO, a robotic pet dog, understands 100 voice commands, learns and matures

2005: Sebastian Thrun’s Stanford team wins DARPA’s 132-mile driverless car race

2011: IBM Watson, a system capable of answering questions, wins quiz show Jeopardy

2012: Google’s self-driving car gets license in Nevada

A Google self-driving car at the Google headquarters in 2012.

2014: Man Group starts using machine learning algorithms to manage client money

2016: Alphabet’s DeepMind AlphaGo computer program beats Go champion

South Korean professional Go player Lee Se-Dol plays against Google’s AlphaGo on March 13, 2016.

2017: AlphaGo Zero learns by playing against itself, beats AlphaGo by 100 games to 0

2017: Facebook switches entirely to neural networks for 4.5 billion translations a day

2017: First AI Powered Equity ETF driven by IBM’s Watson computer starts trading

2017: Two Sigma, a hedge fund that deploys machine learning, crosses $50 billion in assets under management

2040s: AI could be involved in 99 percent of investment management, according to Man Group.


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