Artificial intelligence (AI) is on the rise and can do many things, like pass the bar exam, but would you trust AI with your investments? According to a recent survey conducted by YouGov, 20% of adults aged 18 to 49 said they were somewhat or very likely to use an AI-powered financial advisor, compared to 10% of adults 50 and older. This highlights the growing interest and trust in AI technology for financial decision-making.
With this in mind, AI investments are becoming increasingly popular, and businesses are using AI chatbots to secure hefty investments. AI is also influencing how investment decisions are made at large financial institutions such as Goldman Sachs. At the Forbes Iconoclast Summit, it was revealed that developments in AI are influencing how investment decisions are made at Goldman Sachs.
BTD Capital Fund (AMEX: DIP) is an actively managed ETF powered by an AI that's been trained to apply the classic “buy the dip” strategy. The AI uses machine learning to analyze market data and identify trends that can be used to make investment decisions.
Salesforce Ventures, the investment arm of Salesforce, is doubling the size of its Generative AI Fund for startups from $250 million to $500 million. Three months after launching it, the company announced the increase in investment. The Generative AI Fund invests in startups that are using AI to solve real-world problems.
Accenture (NYSE: ACN) has also announced a $3 billion investment over three years in its Data & AI practice to help clients “transform into data-driven enterprises.” The investment will be used to expand Accenture’s capabilities in AI, machine learning, and data analytics.
Synthesia is the latest AI startup to raise a big round and hit a $1 billion valuation after a $90 million Series C. The UK-based startup uses AI to generate video content that appears to be created by humans. Synthesia plans to use the funding to expand its platform and move into new markets.
In conclusion, the increase in AI investments highlights the growing interest and trust in AI technology for financial decision-making. With companies like Salesforce Ventures doubling their investment funds for AI startups, it’s clear that the demand for AI solutions is on the rise. As AI continues to evolve and develop, it’s likely that we’ll see more businesses and financial institutions using AI to make investment decisions and manage their portfolios.
