The applications include using AI to signal differences in portfolio companies' regulatory filings, which can indicate poor performance, and using algorithms to uncover changes in strategy shifts and manager terminations before news outlets. Vanguard and Fidelity are also building out AI capabilities.Ĭhin lifted the hood on the asset manager's AI strategy and use cases. BlackRock has also been experimenting with AI to help employees do their jobs better and faster, with CEO Larry Fink predicting it could boost productivity by 30%. Other asset managers are turning a corner with AI and data science. Wall Street firms' AI efforts have been revitalized this year, thanks to the mainstream release of ChatGPT and other forms of generative AI. The move would save AB hundreds of thousands of dollars and help its investors seek an edge with the $704 billion assets they manage. Over the next several years, Chin, now AB's head of investment solutions and data science, would build out an internal task force dedicated to machine learning and AI. The changes would be far-reaching, from how AB collects data, to how the organization is structured, to how investment decisions are made, he said. "At the time, I went to my CEO and said, 'Look, we really need to rebuild our data science capabilities because our industry is changing and for us to be competitive in our industry," Andrew Chin, who at the time was serving as AB's chief risk officer and head of quantitative research, told Insider. Seven years ago, the massive money manager AllianceBernstein set out on a mission to transform itself with AI and data science. Here's how AB uses AI to get an edge, save analysts hours of work, and improve risk management.The team is led by Andrew Chin, AB's head of investment solutions and data science. ![]() AllianceBernstein has been building out a team focused on AI and data science since 2017. ![]()
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