(Bloomberg) — Over the next five years, machine learning could improve “so much of what human investors and analysts can do,” said Greg Jensen, co-chief investment officer of hedge fund giant Bridgewater Associates.

While there are still many problems with off-the-shelf natural language processing models, if you can combine them with data models “you can create this tremendous power,” Jensen said in an interview with Bloomberg TV on Monday.

The current AI boom isn't like the tech bubble of 1999, because the revenue for growth companies today “is actually there in a way that it wasn't for a company like Cisco in 1999,” he said.

That bubble was about future expectations, according to Jensen.

“The stock price today, actually we would say, is based on what's happening right now,” he added, noting that chipmaker Nvidia Corp. focused on AI is already in “tremendous demand”.

Last week, Bloomberg reported that Bridgewater launched a $2 billion fund led by Jensen that uses machine learning as the main basis of its decision-making.

Bridgewater has set aside 25 people focused on evaluating how to use machine learning for investing, Jensen said.

“Having machine learning generate ideas, generate algorithms — that's been kind of a dream for me,” he said.