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Welcome to our weekly edition of AI & Finance™!
Hello friends, today we wrap up a fascinating week in artificial intelligence and financial services and we look ahead to what is sure to be an active summer. While some of the breaking news around AI & the financial services industry seems to be slowing down, and AI venture capital funding also took a bit of a breather this week, the conversation around AI ramped up, in part because the newly elected pope, Leo XIV, seems poised to make artificial intelligence an important part of his mission. Key to the conversation around AI and trust is the concept of observability, which we introduce in our AI Education column this week. Plus, we have an interview with the always interesting Mark Casady and a back-and-forth about stablecoins to round out a very diverse edition of AI & Finance... CHECK IT ALL OUT BELOW!
He chose Leo as his papal name to directly allude to Leo XIII, a pro-labor pope who reigned before and through the turn of the 20th century as the industrial revolution reverberated and altered the nature of the relationship between labor and capital. Addressing catholic cardinals in his first homily as pope, Leo equated the development of AI with a new industrial revolution, arguing that it posed "new challenges for the defense of human dignity, justice, and labor." In later comments, Pope Leo added that he was interested in the potential for AI to benefit humanity, but we're going to focus on what seems like... CONTINUE HERE
AI observability both describes the application of artificial intelligence to the concept of software observability, and the application of observability to AI. That leads us to observability itself, which according to Google is the ability to understand a system's internal state by examining its external outputs. A software's internal state is simply what is going on inside the system while it is operating, including the data it is using and the processes it is subjecting that data to. External outputs describe the stuff that a system emits. Think of a human body. In most cases, it's not desirable to open up a human... CONTINUE HERE
Last week I sat down with Mark Casady-former Chairman & CEO of LPL Financial, co-founder of Vestigo Ventures, and six-year FINRA governor to boot-to explore how artificial intelligence is reshaping wealth management. Our discussion ranged from emotionally intelligent advice to fiduciary guardrails, and the vision of an AI-powered advisory firm of the future. Casady recently spoke on an industry panel where he surprised the room by describing how AI technology can enhance an advisor's Emotional Quotient, or EQ, which ultimately works better for the end client. He recalled interviews with LPL's top producers: their edge wasn't clever products but an ability... CONTINUE HERE
This week our announcements are led by one deal exceeding the $100 million threshold. The top reported deal, per FinSMEs, came from Las Vegas-based TensorWave, a builder of AI infrastructure built upon AMD's technology, which raised a $100 million round to "accelerate its operational growth, team expansion, and the... deployment of its Instinct MI325X-powered training cluster," according to its announcement. The next biggest announcement came from the AI development space, where Amsterdam-based Toloka brought in a $72 million round. The top five also included companies in the healthcare, biotech and logistics AI spaces. Smaller funding raises that did not quite make our... CONTINUE HERE
AI made more global headlines this week with major developments from the Middle East to major tech campuses. Breakthroughs in AI-generated algorithms, international infrastructure initiatives, and education reform were front and center. Additionally, strategic deals and national programs signaled not only investment-but long-term adoption-of AI across many diverse sectors. Middle East Momentum: Gulf nations locked in over $20B in AI infrastructure and chip deals, setting the stage for global influence. Public Sector Embrace: Governments in the UK and India launched AI initiatives in policy and education-marking a shift toward institutional reliance. Recursive AI Advances: DeepMind's AI-created algorithms reveal a future... CONTINUE HERE
In this week's podcast, our dynamic AI duo - Al & Ivy - discuss ongoing competition among stablecoins and how they could transform the global financial system. The content was generated thru NotebookLM from this content source: The Harvard Business Review; "The Race to Dominate Stablecoins", by Christian Catalini and Jane Wu (published August 6, 2024). This text discusses the ongoing competition among stablecoins, which are cryptocurrencies tied to external currencies. It highlights how these stablecoins could transform the global financial system by challenging traditional banks and payment networks. The article examines the strategies of established players and newcomers, the influence of regulators, and the... 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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