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Welcome to our weekly edition of AI & Finance™!
Hello, Friends, here we are at the end of another consequential week for financial artificial intelligence, and our newsletter is covering it all pretty closely. We don't think it's right to get to all the mostly positive news you're going to read below in our newsletter without mentioning the massive market selloff partially caused by AI-related uncertainties and disruptions. That selloff took about $1 trillion off of global technology stocks over the past week, a good chunk of that total coming out of the elephant of AI chipmakers, Nvidia. We don't spend a lot of time actively following the markets here, but any time we're measuring on-paper losses in the trillions, we don't want to stay silent. Below, you'll notice that both policymakers and the financial industry are starting to converge on their own separate approaches to AI. You'll also learn about the AI data powerhouse Snowflake, a big announcement from Feathery amid cooling AI venture capital activity, and a look back at the past two months' federal regulatory activity in the U.S... CHECK IT ALL OUT BELOW!
We used to say the news just writes itself because there was lots of of stuff going on that was instantly interesting to readers, so that all reporters really had to worry about was conveying information clearly, and the rest would really take care of itself. Now the news literally writes itself. Welcome to another AI & Finance, where we're going to tell you what we see in this week's headlines before we turn our heads towards some of the other artificial intelligence in financial services going on... and the trend is kind of a story in itself. Below you'll see headlines from... CONTINUE HERE
A few weeks ago we pointed out how much we talked about data around here, in an effort to illuminate how central data is to the deployment of artificial intelligence. This week on AI Education, we're right back at it-but we're going to take a more specific, closer look at a specific provider in the AI data universe. While most of our columns are about AI topics-like data warehouses, or data ethics, or data integrity-we do occasionally take a moment to discuss specific AI companies and products, like Mistral AI, or Databricks, or the LLaMa models. Thus it is this... CONTINUE HERE
This week our overall AI venture capital activity lost some of its momentum from prior weeks, with all five of our listed announcements coming in over $130 million and six announcements total coming in over $100 million. The biggest announcement, per FinSMEs, came from San Jose, Calif.-based AI infrastructure provider SambaNova, which raised $1 billion as part of its Series F round to "expand capacity, accelerate product innovation, and scale deployments for enterprises, neo-clouds, sovereign AI customers, and service providers worldwide. It will grow customer programs and continue investing across chips, systems, software, and full-stack AI infrastructure," according to its announcement. Our second-place... CONTINUE HERE
Artificial intelligence's relentless pace continued unabated during this week, with the industry's attention shifting from model launches to the consequences of deploying frontier AI at global scale. Competition among OpenAI, Google, Meta, Anthropic, xAI and an increasingly sophisticated Chinese AI ecosystem intensified, while governments and regulators continued wrestling with national security, safety and international competitiveness. Enterprise AI adoption accelerated, AI infrastructure remained a dominant investment theme, and the industry found itself confronting new legal, economic and geopolitical questions. The week's biggest stories illustrate an AI sector rapidly transitioning from experimental technology into critical global infrastructure. Perhaps the week's biggest business story centered on... CONTINUE HERE
AI has come a long way, baby. In a very short amount of time, too. And it's not just the technology that we're talking about, but the regulatory discussions around artificial intelligence in the financial services industry. Just 12 short months ago, it seems like much of the regulatory debate around AI and finance revolved around whether AI should be integrated and deployed at all within financial processes and workflows. Around the world, we've blown way past that debate-so quickly that regulators are starting to notice that the technology is evolving and being used within finance faster than they can address its... CONTINUE HERE
Artificial intelligence has flooded financial services with chatbots, copilots and point solutions. Feathery believes the real opportunity lies somewhere much deeper. The San Francisco company has raised $30 million in funding to expand what it calls an AI operating and decisioning system for financial services. The round includes support from Portage Ventures, Index Ventures, Bain Capital Ventures, Allstate Strategic Ventures, Clocktower Ventures and Erie Strategic Ventures. The investment comes as wealth managers and insurers face a growing operational challenge. Firms are collecting more client data than ever before, yet much of it remains trapped inside disconnected systems. AI tools can summarize documents or... 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)
Bozeman • MT • 59715 • USA
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