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Welcome to our weekly edition of AI & Finance™!
You might think that we took this holiday week to rest on our laurels here at AI & Finance, but let me assure you that is far from the case. Not only do we have too few laurels to rest on comfortably at this early stage, but there's really no time for rest in the busy, always-on worlds of artificial intelligence and financial services. To that end, we have a big edition of our news headlines roundup, an illuminating explanation of machine learning and another busy week of venture capital fundraising for you below. We also encourage you to check out the Fintech Views piece from long-time wealth management consultant Jeff Nash, who this week is very much on our wavelength... CHECK IT ALL OUT BELOW!
Thankfulness and gratitude are emotional and cognitive ideas I've been gravitating towards over the past few years. I am convinced that there's a direct link between being grateful and being happy, and I feel immensely lucky and grateful to be who I am, where I am, doing what I do. But what do we have to be thankful for in AI this year? That AI didn't negatively impact our elections? That AI hasn't made all of us knowledge workers unemployed-yet? Not exactly great material for a column. So, I'm going to discuss the big wealthtech news this week, the acquisition of RIA custodian and wealthtech TradePMR by Robinhood... CONTINUE HERE
This week on AI Education we're going to explain another foundational artificial intelligence topic: machine learning, often abbreviated as ML. If we were to read the most popular AI-related material published to the web, it's entirely possible that we would emerge convinced that machine learning is something entirely distinct from artificial intelligence. A common abbreviation, AI/ML, seems to imply that distinction. Let's go ahead and throw that assumption out the window in our first paragraph today. Machine learning is artificial intelligence-all machine learning is artificial intelligence-but not all artificial intelligence is machine learning... CONTINUE HERE
AI venture funding posted another busy week ahead of the Thanksgiving holiday, led by one deal exceeding the $100 million threshold. This week's top reported deal, per FinSMEs, came from Colorado-based Enveda, which raised $130 million in its Series C round to advance its drug pipeline and deliver clinical catalysts. The next biggest announcement also touched on the biotech space, where Dutch-headquartered Cradle brought in a $73M round to support its protein engineering platform. The top five also included companies in the AI development and wealthtech spaces. Smaller funding raises that did not quite make our top 5 this week included announcements from the risk management, voice AI and security sectors... CONTINUE HERE
2024 has had a number of noteworthy events. I find myself categorizing items into two distinct silos: events so impactful, they served as a line in the sand, effectively demarcating what came before and what came after ... a delineator, if you will (e.g., the 9/11 terrorist attacks, the COVID pandemic). The story of 2024, the event that will captivate future generations and historians, falls into both categories: the escalation of AI. This past year is that line in the sand when this emergent technology truly began to infiltrate every aspect of our professional and personal lives. I believe 2024 will be the "when" in AI's origin story as a transformational technology across all industries, including wealth management... CONTINUE HERE
The industry moved quickly, with governments catching up in the AI race. However, the private sector has set the pace, with rapidly improving utility | Google launched its London AI campus | Amazon introduced a new video model | The DoD is upgrading its D.C. defense systems with AI cameras and more | UK agencies are keeping their AI projects from the public eye | NVIDIA launched a music generation tool that produces entirely new sounds | And much more... CONTINUE HERE
In this podcast, our dynamic AI duo - Al & Ivy - discuss President Elect Trump's controversial pick for US Treasury Secretary, hedge fund manager Scott Bessent. The original source for the content is "Who is Scott Bessent? What you need to know about Trump's Treasury secretary pick", published by CBS News. Also referenced is "9 Duties of the Secretary of the Treasury", published by Masterclass.com. The Masterclass.com content details the nine responsibilities of the U.S. Secretary of the Treasury, encompassing fiscal policy, debt management, tax collection, presidential advising, law enforcement, currency production, managing entitlement funds, international finance, and national security... 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)
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