I saw it first hand at an investment management firm in the late 1990s. They hired a team of Neural Nets experts out of academia. Never produced much useful, co

I saw it first hand at an investment management firm in the late 1990s. They hired a team of Neural Nets experts out of academia. Never produced much useful, cost millions and wasted lots of peoples time. My understanding is that there were many other similar situations at other firms around that time. As far as I know there were no great successes.