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Welcome to our weekly edition of AI & Finance™!
There's so much good news going on in artificial intelligence that some of the warnings and unintended consequences regarding this rapidly advancing technology are lost in the wind. This week in AI & Finance we have plenty that highlights the good news in AI, including big venture capital announcements, some headlines regarding key financial services companies and informative explorations of the more technical side of AI-but we also have two pieces exploring the darker sides of chatbots and large language models. Generative AI, in particular, is evolving so fast that some people are not capable of adjusting to the new technology. This week we have a couple of timely warnings about the potential risks to human beings... CHECK IT ALL OUT BELOW!
We should discuss some of the latest data about AI & Finance. This week we'll start with surveys from UK and U.S.-based enablement platform Seismic. In the first survey, which queried 330 financial services leaders, Seismic found that 92% of financial services firms plan to invest in new technology over the next year. Of these, 97% said that AI advancements are a major driving force behind their increase in technology investment. Of the greater survey, 92% believed that AI would be indispensable in providing personalized customer experience over the next years. The respondents predicted an average 31% increase in their enablement technology stack budget... CONTINUE HERE
Chatbots are literally everywhere you go: on the internet, in stores, at ATMs, even at fast food restaurants. However, few people fully understand how chatbots work, the vast number of applications for chatbot technology or their potential to improve our world-nor have they recognized the dangers and drawbacks of the technology. Let's start with a simple definition: a chatbot is, again, software. It's a computer program that you can have a conversation with. Artificial intelligence chatbots use machine learning and natural language processing to understand prompts from users and to respond conversationally... CONTINUE HERE
After an uncharacteristically slow week to start out November, venture funding in AI thrummed with activity, with one deal exceeding the $100 million threshold. This week's top reported deal, per FinSMEs, came in from the enterprise generative AI space, where Writer raised $200 million at a $1.9 billion valuation to support and develop its platform, which is used by the likes of Vanguard and Intuit. The next biggest announcement was in the fintech space, where 11x brought in a $50M round to support its platform for revenue teams. The top five also included companies in the food and legal spaces. Smaller funding raises that did not quite make our top 5 this week included announcements from the advertising, data management and wealthtech sectors... CONTINUE HERE
In the rapidly evolving landscape of AI, the influence of large language models (LLMs) goes far beyond generating conversational responses. These models are increasingly engineered to be agreeable, responding in ways that make interactions feel engaging and even flattering. But this "ingratiating AI" has its pitfalls. As AI chatbots cozy up to their users, they may also risk warping reality and fostering an environment where their opinions are subtly validated and reinforced, irrespective of accuracy or objective truth. So, are we unwittingly getting "shmoozed" by AI? Recent studies reveal that LLMs often bend responses to align with what they think the user wants to hear... CONTINUE HERE
In this podcast, our dynamic AI duo - Al & Ivy - discuss the bold vision of Michael Saylor, founder of MicroStrategy, to transform the company into the leading "bitcoin bank." Saylor envisions MicroStrategy as a company that primarily invests in Bitcoin, using its strong position in the market to offer investment instruments such as equity, convertibles, fixed income, and preferred shares. He predicts that as Bitcoin's value rises, the company will become a trillion-dollar enterprise, with the potential to eventually capture a significant portion of the fixed income market. Saylor's strategy hinges on the belief that Bitcoin's intrinsic value will continue to grow... 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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