The effectiveness of using artificial intelligence in investment strategies on the stock markets

Subject. This article discusses the effectiveness of using artificial intelligence in investment strategies in the Russian and American stock markets. Objectives. The article aims to assess the effectiveness of using artificial intelligence in building investment portfolios and managing assets, relying on key metrics of investment performance. Methods. For the study, we used the methods of analysis and comparative assessment of the effectiveness of investment strategies and financial asset portfolio management, as well as infographics. Results. The article finds that regarding the Russian market, only one out of the five strategies examined has a statistically significant positive alpha coefficient. At the same time, the index of hedge funds using artificial intelligence in the American market also does not show a significant advantage over the broader market. Conclusions and Relevance. The article concludes that the implementation of artificial intelligence in investment strategies currently does not significantly increase the return on the investment portfolio to outperform the benchmark, however, this may change with the alteration of the time horizon for using such strategies. The results of the study are significant for advancing academic research on the effects of the use of artificial intelligence in the financial market. They can be applied later in the development and optimization of investment strategies using artificial intelligence, as well as for assessing their effectiveness for investors.