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Welcome to our weekly edition of AI & Finance™!
Hello, friends, and welcome to another weighty week of AI & Finance, where AI found its way into more stock market volatility and became a topic in Fed-speak, among other news stories. Artificial intelligence was everywhere, and we have plenty of content to back it up. First, however, we're going to go ahead and address a loss to our Digital Wealth News and AI & Finance family, as our founder Cindy Taylor passed away last week after a difficult, brave stand against illness. While you'll find her obituary below, we'll also have more to share about Cindy, who was also a great friend and mentor, in our columns next week. Our thoughts go out to her husband, Bill, and their family. Turning to this week's content, we have a finance-focused pair of AI Education columns for you to chew on, an AI & Finance headlines column that starts by discussing doomsday clocks and then comments on last week's Altruist/Hazel kerfuffule, and a more muted VC announcements column buoyed by a big haul from Databricks.... CHECK IT ALL OUT BELOW!
Cindy Lou Taylor, 64, of Bozeman, Montana, passed away on February 12th. Cindy was born in Monroe Center, Illinois to Douglas and Betty Boomgarden on May 18th, 1961. She grew up in rural Illinois and attended Northwestern University where she earned her Bachelor's degree in Communication Studies. She met her husband, Bill Taylor, in Chicago, and they were married on November 4, 1995. Over their 30+ years together, they were inseparable, spending only six days apart. Together they founded, owned and operated Digital Wealth News, taking great pride in their professional partnership and mutual devotion... CONTINUE HERE
Humans always eventually seem to use science and technology to predict our own doom-if not cause it. Welcome to AI & Finance, and yes, it was a big week in financial artificial intelligence, but we're going to start out by talking about a little news item. A recently launched free online calculator will tell you the exact year you're going to lose your job to artificial intelligence. In a proud tradition that includes algorithms and devices that will tell you the approximate date or age of your demise, to doomsday clocks trying to tell us how close we are to species-wide catastrophe... CONTINUE HERE
The relationship between financial providers and consumers, customers and clients is not a strong bulwark against encroaching technology-it's a rowboat in a hurricane. The winds of change are howling at it as more people receive more services via their computers and their devices. Think about it. How often do you actually talk to a real-live bank teller? A frontline service provider at an investment bank or broker-dealer? An insurance agent? In today's financial services industry, chances are good that, if you call or actually walk into a bank branch or the branch of a major national brokerage, you won't know the people... CONTINUE HERE
Venture capital activity came in with a top-heavy but down week, where we saw four fundraising announcements come in above the $100 million threshold. The biggest announcement, per FinSMEs, came from San Francisco-based Databricks, which raised $7 billion in a Series L at a $134 billion valuation. Databricks, who we've covered in our AI Education column in the past, is a data intelligence and orchestration platform. The company will use its new funding to "accelerate development and adoption of Lakebase, its serverless Postgres database built for AI agents, and Genie, its conversational AI assistant that lets any employee chat with their data," according... CONTINUE HERE
We talk a lot about artificial intelligence in the financial services industry here at AI & Finance, just not in AI Education, where we've embraced the opportunity to write about the greater AI space. Well, this week we're once again trying something a bit new and different because we're going head-first into the financial services industry-specifically, what happens when you turn the technology behind generative AI onto financial data. We're going to talk about large transaction models, but first, let's be clear-most of the applications to date of AI within financial services have been using language models-that is, AI technology... 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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