It might soon be time to hand your money to the robots.
"The day is coming where you will be able to speak to an [artificial intelligence] system and get substantially better advice than any human advisor could give you. I don't think this is that far away," said David Siegel, co-chairman of hedge fund firm Two Sigma Investments, said Monday at the Milken Institute Global Conference in Los Angeles.
"Even the most professional money managers are emotional; they are people after all," said Siegel, who helps run one of the largest hedge funds in the world that uses powerful computer programs to invest. Two Sigma manages about $25 billion.
"There's hope that more algorithmic approves, more robo, or AI approaches, would de-emotionalize many of these decisions, reducing the chances that everyone, in fear, would pile into the same thing," he said, citing the market panic in 2008.