Major financial institutions are conversing up generative A.I. — but the threats signify they are not diving in headfirst

Major financial institutions are conversing up generative A.I. — but the threats signify they are not diving in headfirst


Essential Points
  • Quite a few phrases and phrases ended up used by major banking and fintech executives to describe generative AI at Dollars 20/20 in Amsterdam this week, from “thoughts boggling” to an “explosion of innovation.”
  • Generative AI, which generates material in reaction to user prompts, can be applied to automate complex processes in banking.
  • Even so, the know-how is however in its early times, and numerous banking institutions cautioned that it may well be too dangerous to implement it in locations that contact buyers.



Source

JPMorgan hired NOAA’s chief scientist to advise clients on navigating climate change
Finance

JPMorgan hired NOAA’s chief scientist to advise clients on navigating climate change

Key Points Sarah Kapnick started her career in 2004 as an investment banking analyst, but was struck by how little climate change was being factored into financial decision making. She later became the chief science officer at the National Oceanic and Atmospheric Administration (NOAA) Last year, JPMorgan hired Kapnick back into banking, where she’s advising […]

Read More
Daniel Loeb’s next task as his hedge fund turns 30: Avoiding becoming ‘AI roadkill’
Finance

Daniel Loeb’s next task as his hedge fund turns 30: Avoiding becoming ‘AI roadkill’

Daniel Loeb has found himself a new goal as his hedge fund Third Point entered its milestone 30th year: To be a true winner in the red-hot artificial intelligence boom and not run over by it. “Change is happening at an ever accelerating and increasing rate and it’s just going to require us to continue […]

Read More
Stocks making the biggest moves midday: Costco, Palantir, Gap, Ulta Beauty and more
Finance

Stocks making the biggest moves midday: Costco, Palantir, Gap, Ulta Beauty and more

Check out the companies making headlines in midday trading: Costco — The wholesaler gained more than 3% on fiscal third-quarter results that surpassed analysts’ estimates, while sales jumped 8% from the same period a year ago. Ulta Beauty — Shares of the beauty retailer skyrocketed nearly 13% to hit a 52-week high after the company […]

Read More