Hedge funds are adopting generative AI such as OpenAI's ChatGPT to automate tasks and boost productivity, but it's yet to be a game-changer in investing methods. ChatGPT can follow instructions and create new finance content after being trained on extensive data. Its potential lies in speeding up coding, research, and client communication, as well as automating basic data pattern detection to streamline customer service. Hedge funds like Campbell & Co are using ChatGPT as an assistant to augment human efficiency, and keeping workers in the loop.
Tech icons Zuckerberg and Bezos flaunt fit physiques as new poll reveals tech workers work just 4 hours per day. Meanwhile, Texas is the new tech real estate Wild West and AI skills will dominate job hunting. Homeowners are causing issues with pool-rental app Swimply, and NASA has released stunning galaxy imagery. Luvly, the Swedish carmaker, aims to be the Ikea of EVs, with its compact model designed for city-living and priced significantly lower than competitors. Swedes praise generous vacation policies and low overtime to avoid burnout.
UK SMBs plan to boost IT investment, despite soaring costs. Sharp's survey reveals almost 50% of British firms aim to explore new tech and maintain productivity. Cloud migration, IT security, and hardware upgrades are top investment priorities. #UKbusiness #ITinvestment #SharpSurvey
Bank of America is encouraging investors to consider AI as a new trend in their investment strategy. Savita Subramanian, Head of US Equity and Quantitative Strategy, highlights productivity and increased focus on capex cycle on automation, reshoring, and green initiatives as a potential boost for firms with higher capital spending. Her team upgraded the tech sector to Market weight while downgrading healthcare, communication services, and consumer staples stocks. For investors, it's recommended to invest in value lines within mid-cap and small-cap stocks.
Explore the evolution of tech policy from Obama's optimism to Harris's vision at the Democratic National Convention. What's next for Democrats in tech?