Baillie Gifford mulls fund using artificial intelligence

Edinburgh-based fund management giant Baillie Gifford is planning to launch a fund using artificial intelligence (AI).

Baillie Gifford joint senior partner Charles Plowden told an investment trust conference in London the Edinburgh firm is considering providing the capital to start a fund managed by an “experimental” investment team assembled last year, according to a trade publication report.

Plowden told the conference the four-strong team had been investigating how machine learning could be used to improve company analysis and stock-picking, the report said.

“Most fund managers use machine learning for faster trading,” Plowden told the Winterflood Investment Trusts conference.

“Our goal is not to do things faster but to capture more data …

“AI is not going to replace us but to assist us …

“We may seed a fund in the next year.”

Baillie Gifford declined to comment further on its AI fund plans.

Baillie Gifford & Co employed 1,285 people as of December 31, 2019, and had assets under management and advice of £206 billion as of September 30, 2019.