CANVAS: BIG DATA AND ART Hedge funds and some of the world’s biggest banks have embraced the predictive properties of machine learning to spot patterns and guide their investment decisions. Could this branch of artificial intelligence be used to divine the vagaries of the art market? A New York start-up says it can. Arthena analyses hundreds of thousands of data points on artworks —artist, style, medium, size and so forth. Adding a touch of human insight, the company picks pieces it says will generate handsome returns for investors. Arthena manages several funds, ranging from low-risk ones that invest in modern art to higher-risk funds that buy works from emerging artists. Valuing art is inherently subjective, and many experts are sceptical that it can be profitably bought and sold by the numbers. But Arthena co-founder and Chief Executive Officer Madelaine d’Angelo said, “Arthena could shed light on a market where deals are often done privately, lower the barriers to entry and he...