The topic is the extent to which artificial intelligence (AI) is used and not used in the financial information analysis industry. Andrew Lo of MIT says emotions are key to the success of trader, and that the future of AI is in personalized investment services. Lo backs the 'smart index,' which would build a personal index based on financial goals, risk tolerance, and tax bracket, and other personal factors, rather than comparing a personal portfolio against such indexes as the S&P500. Lo, who is the director of the Laboratory for Financial Engineering at MIT, says every investment firm that uses a math-based strategy uses a form of AI in research. The term AI will probably also appear in promotions for retail investments and privately managed accounts, says Lo. AI cannot think like Warren Buffett, even though real AI software is built to model human decision-making and to 'learn' from errors. In contrast, data processed by professional human investors comes from many resources, including industry databases, media, conversations, and trips to stores. Lo says the human mind does not use a set of clear, easily transcribed rules, but instead 'matches the jumble against other jumbles stored in memory and looks for patterns, usually quite unconsciously.' Topics covered include the influence of the researcher and his or her skills and intelligence in using AI; problems with a specific AI system that for a time worked well and then 'blew up'; and AI's future in personal finance.