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Computer-powered hedge funds lag the bull market

Even as experts worry over the havoc AI could bring to financial markets, quantitative hedge fund strategies actually aren't outsmarting more human-reliant competitors in recent quarters, according to Bloomberg.

Quant fund managers — who feed huge caches of data to sophisticated, proprietary algorithms to find inefficiencies in the market they can exploit for profit — are struggling to keep pace with the broader market, and some funds, like the once-promising R&F Capital, are shuttering their doors altogether.