CIA-Backed Startup Builds ‘Bots For The Next Generation Of ETFs
The Central Intelligence Agency was one of the early backers of an AI startup company called Kensho Technologies, once focused on analyzing North Korean missile launches, earthquakes and elections – at least, until 2014. That’s when John van Moyland joined the company and its focus pivoted to finance, according to a new Bloomberg article.
S&P Global wound up buying the company last year and is now using it for yet another cause: developing the next generation of index funds. According to van Moyland, who’s title is now “managing director and global head of S&P Kensho Indices”, machines can design better indexes used as underlying products for passive investment vehicles like ETFs, which among other passive investment instruments, manage about $7.3 trillion in the U.S.
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