AI may assist but can’t outdo human fund managers in mutual funds, say experts

Artificial intelligence (AI) is seeing wider adoption for research and data analysis in the mutual fund industry, but experts say it does not replace human decision-making.

Deepak Shenoy, Founder of Capitalmind, said mutual fund management must remain a human responsibility. “You can’t delegate your decision-making authority to anything, including an algorithm, an AI, or whatever you may call it. So in the end, it’s the human, the fund manager, that’s responsible,” he said.

He described AI as a round-the-clock research assistant. “AI is like a…