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Welcome to our weekly edition of AI & Finance™!
Hello friends, welcome to another confusing week in artificial intelligence. Let's clear things up right away, we feel no confusion about whether there is a lot of momentum within artificial intelligence and plenty of opportunity for it to be used more broadly and deeply within the financial services industry. The momentum and opportunity are both clear this week. But humans themselves seem to be of two minds about AI. Some of us are embracing it with unbridled zeal, some of us are rejecting it with an equal passion, but most of us are going back and forth, or somewhere in-between optimistic excitement and pessimistic dread-terror. We're reminded of the Warren Buffet investment line about being fearful when others are greedy, and greedy when others are fearful. Investors don't seem to have much doubt or fear about AI right now-but how can we know how best to approach artificial intelligence in general when the world seems simultaneously both unrealistically euphoric and overly cautious about the technology? Our best solution may be to educate ourselves, and that brings us to this week's newsletter, which is chock full of essential information on AI's evolution within financial services... CHECK IT ALL OUT BELOW!
We think we can call the debate over whether people will seek out personal, crucial advice from AI officially moot. The new battlelines are drawn along questions about whether it's a good thing or not that people are consulting artificial intelligence to answer key questions about their health and wealth. Welcome to AI & Finance, where this week we have a full slate of AI in financial services headlines for you to digest-but first, let's look at some recent data about how people are using AI, because it may concern and alarm us all, and that makes for good column fodder. Just... CONTINUE HERE
AI is great at writing generic content, but it isn't so great at making us feel. It understands that we need answers to our questions-and it can find those answers-but it doesn't always understand why or how. AI is a great informer, but not so great at persuading. But a relatively new form of AI, called contextual AI, promises to change all of that. To understand contextual AI, we must first understand contextual intelligence itself. Traditionally, intelligence has been measured through constructs like IQ, which focus on analytical reasoning, mathematics, and linguistic ability. However, these capabilities often reflect learned skills rather... CONTINUE HERE
Even as the breadth of venture capital activity took a dip this week, a pair of extraordinary announcements kept up the overall momentum from prior weeks. The biggest announcement, per FinSMEs, came from San Francisco-based OpenAI, which raised $122 billion, for the first time extending participation "to investors through bank channels, raising over $3 billion from individual investors. OpenAI will be included in several exchange-traded funds managed by ARK Invest," according to the announcement. Our second-place announcement was from San Diego-based Shield AI, which raised a $1.5 billion Series G, which it will use to "expand operations and its development efforts," according to... CONTINUE HERE
This week's developments show that artificial intelligence is moving beyond innovation into core infrastructure for business, finance, and government. As leading firms invest heavily in compute, models, and talent, and regulators work to keep pace with oversight, the competitive landscape is becoming increasingly defined by AI capability. The organizations that successfully integrate AI into their operations - while managing its risks - will be best positioned to lead in the next phase of the global economy. Competition among frontier AI labs intensified, cloud providers doubled down on infrastructure, and financial institutions continued embedding AI into trading, advisory, and risk systems. At the same time, concerns... CONTINUE HERE
Plancorp Wealth Management saved time using an AI-enabled platform, according to a new case study published by the St. Louis-based RIA and its solution provider CogniCor. In a recently released case study, the two companies review the firm's application of CogniCor's Advisor Copilot solutions, which create efficiencies in meeting preparation, follow-up and identifying client service opportunities. According to a release shared with Digital Wealth News, Plancorp partnered with CogniCor to implement something called "an intelligence layer." This tool integrates into existing workflows and unifies client information into meeting-ready context, insights and actionable follow-ups, according to the companies. The study found that CogniCor... 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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