The potential for tapping new data sets is enormous, but the track record is mixed.

"The Eurekahedge AI Hedge Fund Index, which tracks the returns of 13 hedge funds that use machine learning, has gained only 7 percent a year for the past five years, while the S&P 500 returned 13 percent annually. This year the Eurekahedge benchmark dropped 5 percent through September...

The potential for tapping new data sets is enormous, but the track record is mixed.

"The Eurekahedge AI Hedge Fund Index, which tracks the returns of 13 hedge funds that use machine learning, has gained only 7 percent a year for the past five years, while the S&P 500 returned 13 percent annually. This year the Eurekahedge benchmark dropped 5 percent through September...