AI — powered stock funds bet bots can pick stocks faster and better than humans

Five 'pure-play' AI-managed ETFs manage only $30 million so far Mercer survey shows 91% of asset managers plan to use more AI portfolio tools this year Most asset managers deploying AI to help only with specific tasks By Suzanne McGee PROVIDENCE, Rhode Island, Oct 14 (Reuters) — A handful of fund managers are betting that exchange traded funds run by AI stock-picking models can crunch data quicker and make better investment decisions than humans, even as many people remain wary or even fearful of artificial intelligence. So far, fewer than half-a-dozen ETFs, collectively managing only about $30 million of the ETF industry's nearly $17 trillion in assets, rely solely on AI-powered bots to control everything from research to stock selection. While that represents a tiny fraction of the industry, AI is making its way slowly and steadily into the investment processes of most asset managers, to some extent, even if that may not yet be visible to investors themselves. Earlier this year, 91% of asset managers surveyed by Mercer reported plans to increase their use of AI-based portfolio management tools this year and said they are trying to figure out what tasks can be safely handed off to