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Welcome to our weekly edition of AI & Finance™!
Hello, friends, and happy Thanksgiving to you all. We have a bounty of artificial intelligence information to share with you this week, from a long AI & Finance headlines column with a personal editorial bent, to a worthy contribution about competition in artificial intelligence from Greg Woolf. We also look at just how technology is being offered up to automate business functions in our AI & Education column, and you'll find useful, fun and interesting tidbits in our top 5 venture capital roundup, our AI Intelligence top 10 and Al & Ivy's weekly chat. But in keeping in a season of thankfulness and gratitude in the U.S., we'd like to close out our introduction this week by stating what we're most thankful for-you, our readers, your attention, your curiosity and your trust in us-you motivate us to work harder to keep up with the bewildering universe of AI and its ongoing collision with the financial services industry. Thank you for joining us again, we hope you enjoy another holiday edition of AI & Finance... CHECK IT ALL OUT BELOW!
I am thankful that I get to live and write during the emergence of practical, broadly accessibly artificial intelligence. Even though it's likely to put my profession-and many others-into the dustbin of history, it's worth pushing through the social, financial and economic disruption. Hey, I get to live in interesting times! Welcome to a Thanksgiving week AI & Finance, where, in case you haven't noticed, I'm doing something a little different this week, writing from the perspective of myself as a person, professional and family member, rather than from the purely editorial perspective. These are my feelings. And I'm glad that ... CONTINUE HERE
When OpenAI released GPT-3 in late 2022, it sent shockwaves through Mountain View. Reports at the time revealed that Larry Page and Sergey Brin were pulled back into active decision-making as Google leadership issued an internal "Code Red." For the first time in its history, Google wasn't reacting to a competitive threat in search or mobile-it was reacting to a threat to its very identity. Google had spent more than a decade positioning itself as an AI-first company, yet it watched a startup redefine the public's understanding of artificial intelligence almost overnight. Inside the company, that moment crystallized a simple truth: Google's... CONTINUE HERE
Do-it-yourself is great for individuals-it's not always so wonderful for businesses. In fact, a young, small, entrepreneurial business is rarely equipped to handle all of its functions by itself. Over the years, consultants and service providers have emerged to support businesses of all stripes. Welcome to another AI Education, where today, we're going to turn our focus to an industry term, business-process outsourcing (BPO), that first evolved in the absence of AI. Now, AI is transforming business-process outsourcing itself. Business-process outsourcing, with or without AI, describes the outsourcing of one or more specific business processes to a third party, an external service... CONTINUE HERE
This week's venture capital funding remained brisk, with five transactions in excess of the $100 million threshold. The top reported deal, per FinSMEs, came from San Francisco-based multimodal artificial general intelligence developer Luma AI, which raised $900 million in a Series C. Luma AI will use the funds to "extend its position in entertainment and advertising into simulation, design, and robotics," according to its announcement. Our second announcement is from Palo Alto, Calif.-based Genspark, which raised a $275 million Series B to "expand operations and its business reach," according to its announcement. The top five also included companies in the life sciences, superintelligence... CONTINUE HERE
This week saw AI's dual engines - infrastructure investment and automation deployment - push ahead full throttle, even as skepticism mounts around financial risk and job displacement. Big-ticket bond offerings, chip-war drama, and mass layoffs tied to AI signaled a striking mix of bullish ambition and growing caution across both corporate and consumer fronts. Massive debt raises fund AI infrastructure expansion. Major tech firms raised nearly $100 billion in bonds to underwrite a wave of new data centers, reflecting confidence in long-term AI demand. Layoffs tied to AI hit historic scale. Over 48,000 U.S. jobs have reportedly been cut this year with AI cited as... CONTINUE HERE
In this week's episode of the Al & Ivy (AI) Podcast, the hosts take on a surprisingly urgent question hiding in plain sight: What exactly is the Federal Reserve, and why is its independence considered essential to the stability of the U.S. economy? As highlighted in a recent analysis from Tufts University, the Fed was intentionally designed to operate outside short-term political pressure so it could make difficult, economically grounded decisions - especially in moments of inflation, recession, or financial stress. But as public scrutiny intensifies and political actors increasingly challenge its authority, economists warn that weakening the Fed's autonomy could undermine both economic... 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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