On Friday, December 20, Simona Paravani joined Markus’ Academy for a conversation on “AI in Finance: An Overview.” Simona Paravani is the Global CIO of Solutions within BlackRock’s Multi-Asset Strategies and Solutions group as well as a Supernumerary Fellow; Distinguished Affiliated Professor, Faculty of Economics at the University of Cambridge.
We apologize that due to technical difficulties, we could not show the webinar live on 2024-12-19 and had to record it separately on 2024-12-20.
AI has progressed rapidly due to advances in computational power and data availability, growing from 2 to over 100 zettabytes in 15 years. It is here to stay, driven by the continued growth of data, favorable attitudes among younger generations, and its demonstrated productivity gains
AI will improve the ability of the asset management industry to deliver investment insights by processing unstructured and real-time data, enriching the pool of data beyond official statistics or broad surveys
While the focus on how to best use AI has remained on prompt engineering, the long-term productivity gains will depend on its users’ critical thinking, interdisciplinary collaboration, and teamwork. This skills challenge does not receive enough attention in the public debate
AI regulation should remain technology-neutral, ensure inclusivity, and address biases in training data. These biases arise from challenges like the digital divide and the failure to ensure technologies are evaluated with input from a representative sample of end users