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Welcome to our weekly edition of AI & Finance™!
Hello, Friends, we have a lot of artificial intelligence news for you to get June started out with a big splash. Speaking of splash, as you'll see from our AI & Finance headlines column, we are on a beach vacation. All the noise, you know, the noise from Hormuz and primary season and inflation reports and dueling professional sports finals series, not to mention markets and the massive moves in AI, have had their volumes turned down a little bit over the past week, but, BUT, they are definitely not on mute. To lighten our load a bit, we've decided to re-run our two most read AI Education columns published so far this year, on optical computing and cognitive banking. Elsewere, what readers will find is a slightly streamlined newsletter this week that is still full of the most essential information, from Anthropic's huge fundraising haul to concerns about so-called frontier AI and the push to artificial superintelligence, we've got it all here... CHECK IT ALL OUT BELOW!
This AI & Finance introduction is going to be shorter than usual. It's not because there isn't plenty going on in AI, and it's not because we don't have a lot to say on the topic. In fact, it was a fairly busy week in the world of artificial intelligence in the financial services, and we have no shortage of thoughts and feelings on what AI's rapid proliferation into every area of our lives might mean moving forward. But, friends and readers, we're on vacation, and the sun and sand are calling to us, so we'll leave it to you to read the... CONTINUE HERE
Computers keep getting faster and faster with every passing day, but the universe has a speed limit that we can't seem to break-approximately 300,000 kilometers per second, also known as the speed of light. The question then becomes, as we accelerate our computers faster and faster, how close can we get to that universal speed limit? Welcome to another AI Education, where this week we'll talk about a technology that promises to help us approach the speed limit of physical computing power in our universe: optical computing. Optical computing is related to a few topics we've covered since taking over this column... CONTINUE HERE
This week our overall AI venture capital activity continued its acceleration from prior weeks, with all five of our listed announcements coming in over $300 million and nine announcements coming in over $100 million. The biggest announcement, per FinSMEs, came from San Francisco-based AI powerhouse Anthropic, which raised a massive $65 billion Series H to "advance its safety and interpretability research, expand its global compute infrastructure through hardware and energy partnerships, and scale its enterprise product suite," according to its announcement. Anthropic, among many other things, is responsible for the Claude suite of models. Our second-place announcement was from another San Francisco-based AI... CONTINUE HERE
The artificial intelligence industry entered June with a mix of blockbuster corporate developments, escalating policy debates, major model announcements, and growing scrutiny over the societal implications of increasingly powerful AI systems. The week was dominated by Anthropic's rapid ascent toward a trillion-dollar valuation and its controversial call for a global slowdown in frontier AI development. Meanwhile, Meta continued its aggressive push toward superintelligence, OpenAI expanded enterprise governance efforts, Google deepened its agentic AI strategy, and major technology companies accelerated efforts to commercialize AI across cloud, healthcare, and enterprise markets. Governments, regulators, religious leaders, and technology executives all weighed in on AI's future, underscoring... CONTINUE HERE
Everyone in wealth management is talking about agentic AI. Automated workflows. Autonomous execution. AI that does not just recommend the next best action - it takes it. The problem is that most firms are not ready for it. And the ones that skip ahead will not just fail to capture the value - they will actively create risk for the households who trusted them with their financial lives. The firms that win the AI era will not be the ones who move fastest. They will be the ones who move in the right sequence. Working with dozens of RIAs and wealth management organizations, I see... 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? 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 working there. They may provide you outstanding service and you... 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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