Shaunak Khire has developed a machine intelligence system, named Emma AI, which is all set to start a fund that he believes can beat humans and computer systems in making a livelihood by trading stocks.
The move is being considered as a part of a wave of technology startups intending to created advanced machinary capable of use in financial markets.
The developer claims that Emma AI will act better than any current finance computers as it has an ability to take into account a highly complex set of factors while trading stocks.
Computerisation or automation is not a new thing for Wall Street. But Emma's creator claims that the new system is different from other high-frequency trading and "quant" data sciences, and will be able to handle difficult management changes or looking over the rules in other regions which have been often missed by the existing systems.
Khire explains that Emma AI will be able to do all these tasks because its neural nets system takes into account a more comprehensive set of factors affecting stocks.
"The new system is not algorithmic trading, but acts literally like a replication of a stock analyst", the partner of tech and finance company Magha Holdings said.
The new artificial intelligence system will begin trading stocks from pharma giant GSK, Tesla and the US Treasury bonds. In testing stages, Emma AI went head-to-head with financial news experts, in a measure to test its ability to replace them.
As per Khire's claim, Emma AI picked a few stocks six months ago, which have yielded over 30 percent growth till now.
Khire is keeping the company's name under veils while he awaits certain patents relating to bots and AI.
Other startup companies implementing AI into financial trades include Aidyia, run by eccentric roboticist Ben Goertzel, and Sentient AI, which is the world's most-funded artificial intelligence company.