EVENT DOSSIER
On September 7, 2026, arXiv cs.AI published a research report titled “Artificial Intelligence in the Stock and Crypto Markets: Progress, Evidence of Profitability, and Limitations of Automated Investing”. This report comprehensively analyzes the latest developments in the application of artificial intelligence technologies in the stock and crypto asset markets, provides specific evidence regarding their profitability, and explores the key factors limiting the effectiveness of automated investing.
截至 2026 年 8 月 31 日，一项涵盖股票、ETF、中心化加密货币现货及永续期货的研究表明，人工智能在预测、文本处理及投资组合设计方面取得进展，但缺乏持久净收益证据。该审查指出，时间污染、重复选择、幸存者偏差、实施成本及容量限制等因素阻碍了 Alpha 转化；尽管历史结果强劲，却伴随预测衰减、修正前视失败及缺乏经审计的实盘记录。研究强调，在公开证据中未发现任何通用人工智能架构能持续提供跨市场状态、具备容量意识的净超额收益。可信主张需满足点时数据、决策对齐目标、联合评估等条件，但这些无法保证盈利。