Subject. The behavioral aspect of the transformation of the financial decision?making process by an institutional venture investor in the form of a classic financial venture fund under conditions of digitalization (in the context of the spread of artificial intelligence (AI). Objectives. To examine the transformation of the decision?making process by institutional venture investors using AI technologies. To identify and classify the causes of the spread of unreliable information in the financial market. To determine the nature of the influence of behavioral effects on venture investors' decision?making under conditions of declining quality of the information base used for AI training. Methods. General scientific methods were applied, including generalization, argumentation, analysis, synthesis, and classification. Results. The causes of the spread of unreliable information on the Internet were identified and ranked by level of significance. The concept of a "disinformation spiral" was proposed. It is this spiral that underlies the possible intensification of the negative influence of certain behavioral factors and prevents the complete elimination of irrational actions by venture investors through the use of AI technologies. Conclusions and Relevance. The influence of the quality of the information base used for AI training on the level of impact of various behavioral effects on venture investors was substantiated. A decline in the quality of the information base can be regarded as an additional factor in the formation of vulnerabilities in the financial system. The results can be used by financial market participants to assess the risks of using AI technologies, as well as by developers and users of software products to improve the quality of the information base for AI training.
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