00:00As investors navigate an increasingly uncertain market environment, corporate earnings and company updates remain key indicators of businesses' health and
00:09future prospects.
00:10Here's a round out of the latest corporate developments from overnight that could help shape your investment decisions today.
00:19AI Lab Enthropic on Monday launched a set of tools for financial advisors connecting its cloud chatbot to investment analytics
00:28and wealth management software from firms including BlackRock, Charles Schwab and Adepa.
00:33The product called Cloud for Financial Advisors is designed to help financial services firms prepare for client meetings, review portfolios
00:42and handle follow-up work.
00:44The launch comes days after arrival of when AI introduced a version of chat GPT for the industry, targeting investment
00:51bankers, equity researchers and tools for financial research, modelling and client materials.
00:57It also builds on Enthropic's broader push into financial services where it has developed tools based on its AI model
01:04cloud for tasks including investment research, portfolio analysis, financial modelling and preparing client materials.
01:12Enthropic's new offering connects cloud with data and software from firms including InvestNet, iCapital, Orion, Wealthbox, Wealth.com and Zox.
01:27Microsoft on Monday unveiled a draft of code of conduct for its in-house artificial intelligence that reflects growing industry
01:34concern that companies must keep future powerful AI under human control.
01:39The document in the works for five to six months would require Microsoft's AI to never resist correction or shutdown
01:47to communicate in ways that humans can understand and to consider any conduct violation to be a failure,
01:53an effort to address concerns that AI can go to dangerous lengths to accomplish a task.
01:59Its release comes days after Enthropic CEO, Dario Amode, an open AI chief, some ultimate renewed calls for industry-to
02:08-base AI's development to ensure its safety.
02:11The code of conduct represents a constitution of sorts of future models made by the company, Microsoft AI CEO Mustafa
02:19Suleiman said in an interview with Reuters.
02:24AI-Linked stocks plunged worldwide on Monday after leaders of the biggest artificial intelligence companies warned of potentially existential risks
02:34from a technology shaking confidence in the industry whose vast infrastructure spending has driven world stock markets to record highs.
02:42The sell-off ripples through industry where companies are increasingly relying on debt and secular financing to fund ambitious AI
02:50spending plans even as global borrowing costs reflected in multi-year high bond yields continue to rise.
02:58Enthropic CEO Dario Amode in a lengthy essay shared on X on Saturday called on AI companies to slow the
03:05rate at which the advanced model capabilities amid mounting fierce AI could be misused.
03:10Both Elon Musk, both Elon Musk, who runs XAI and Sam Altman, CEO of OpenAI, said they agree with Amode.
03:18Altman also said the company would not proceed with an IPO this year, citing safety concerns.
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