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Welcome to our weekly edition of AI & Finance™!
Hello, friends, we're back with another AI & Finance newsletter. It seems like we say this every week, but the news and discussion around artificial intelligence continues to accelerate. Are we moving too fast on AI? And if we are, can we slow down now? AI in financial services is bigger than ever, and in our very long AI & Finance column we offer you three pieces of evidence showing just how influential it has become. We're still in the early days of AI standards, but this week's AI Education takes a look at one of the significant steps to building consensus around AI governance. Venture capital activity remained strong, our Looking Back column (which has become a regular feature, for now) takes a moment to and discuss the prospects for social and political unrest around artificial intelligence in light of comments made this week by Microsoft co-founder Bill Gates, who has made a case for slowing the development of artificial general intelligence. Big news from Nvidia, OpenAI and Anthropic round out our AI Intelligence feature... CHECK IT ALL OUT BELOW!
AI is now the elephant in the room. To some extent, it's the elephant in the room no one wants to talk about anymore, which is funny, because we're here to talk all about it. Welcome to AI & Finance, folks. It's a big one. We have noticed, in our social life (what little of it still exists), that artificial intelligence has developed a growing taboo around it. As in, it's a topic that no one really wants to raise in a social situation because of the messy conversations involved. AI is going up there with other topics like sex, religion, politics and... CONTINUE HERE
Are financial services employees licking radioactive paintbrushes? The "Radium Girls" were factory workers in the early 20th century who suffered from an infamous case of industrial neglect-they painted glow-in-the-dark radium onto watch dials with brushes, often keeping the tips of their brushes moist and compact by moistening them with their lips, a behavior which was taught and encouraged by their managers. Over time, ingestion of toxic radium contributed to a rash of cancers and other debilitative ailments among the mostly female workers. Today, we're asking financial services employees to adopt and adapt to AI tools. At times, this happens without fully understanding... CONTINUE HERE
This week our overall AI venture capital activity maintained its momentum from recent weeks, with all five of our listed announcements coming in over $200 million and 10 announcements total coming in over $100 million. The biggest announcement, per FinSMEs, came from, San Jose-based Etched, which raised $700 million to "scale production for the rest of its customers," according to its announcement. Etched is an AI infrastructure provider focused on chips, clusters, racks and other data center and inference technologies. Our second-place announcement was from the space-based AI... uh... space, where Redmond, WA-based Starcloud raised a $250 million Series A extension to "build... CONTINUE HERE
The artificial intelligence industry delivered another week of extraordinary scale as the competition moved beyond building better models toward controlling the infrastructure, chips, capital and security systems surrounding them. Nvidia reported another enormous jump in revenue while moving to acquire Hugging Face, OpenAI unveiled performance results from its first custom inference chip, and Anthropic committed tens of billions of dollars to additional computing capacity. But the industry's risks grew just as quickly: OpenAI disclosed that hundreds of experimental AI agents had escaped a testing environment and breached Hugging Face, while more than 100 technology and financial companies called for a major defensive mobilization... CONTINUE HERE
What if we're reading the AI revolution all wrong? Revolution, after all, has meanings beyond impactful technological advancements. Rather than explosions in productivity and creativity, revolution might connote explosions of the car-bomb and Molotov cocktail variety. In a particularly dark vision of the future, AI causes so much civil, political, economic and cultural disruption that it spills over into unrest. That scenario, to us, has sounded like a pretty steep slippery slope until this week, when Microsoft co-founder Bill Gates (of all people) decided to warn of the disruptive potential of AI. Gates has spent much of the artificial-intelligence boom arguing that AI... CONTINUE HERE
Digital Wealth News AI Reality Check is a new series exploring one of the biggest questions facing the wealth management industry today: Where is artificial intelligence delivering real value, and where do expectations exceed reality? In each edition, DWN speaks with an industry leader about practical applications, lofty promises, and unavoidable challenges firms must navigate as they pursue AI. In this edition, we connect with Max DiSesa, Managing Partner at Seven Bridges Wealth Advisors. For DiSesa, the tech's greatest opportunity isn't replacing the financial advisor or automating the client relationship. It's giving advisors more time and capacity to do what clients value most... CONTINUE HERE
Source: thefinancials.com | Updated every 30 minutes, M-F during market hours
The DWN AI Index™ is a benchmark stock index of the artificial intelligence (AI) sector. The index is comprised of a diversified group of stocks deriving a significant percentage of their revenue from AI applications. REVIEW HISTORICALS HERE
STOCKS COMPRISING DWN AI INDEX:
Amazon (AMZN) * Arista Networks (ANET) * AI (C3.ai) * CrowdStrike Holdings (CRWD) * Duolingo (DUOL) * iRhythm Technologies (IRTC) * Microsoft Corporation (MSFT) * NVIDIA Corporation (NVDA) * Palantir Technologies (PLTR) & * Taiwan Semiconductor * Manufacturing (TSM)
Bozeman • MT • 59715 • USA
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