OpenAI has brought on a new finance chief, Mike Liberatore, who was previously the CFO at Elon Musk’s xAI. His main job is to keep a close eye on the company’s growing costs for AI infrastructure and make sure their computing resources don’t run out. Liberatore will report directly to the CFO, Sarah Friar, and
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All posts tagged in AI in Finance
Many big-name AI companies, including the ones behind ChatGPT, are spending huge amounts of money with no clear plan to make a profit anytime soon. While some tech giants like Nvidia are making money from their hardware, the software side of AI seems to be burning cash fast. Experts say the current spending spree is
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Klarna, a major player in the personal finance world, once aimed to revolutionize how it handled loans and customer support using artificial intelligence. The company believed AI could take over complex tasks and reduce costs, showcasing a future where machines do most of the work. But things didn’t go as planned, and now Klarna is
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Wealth management used to be something only the rich could afford. It often involved expensive advisors in fancy offices, with clients staring at complicated charts. But things are changing fast. In 2025, AI tools that require no coding skills are making personalized financial planning available to more people than ever before. The Rise of No-Code
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Many people assume that today’s younger generation, especially Gen Z, fully trusts AI when it comes to money advice. But a recent study from the CFA Institute shows a different story. While they see the value in technology, most Gen Zers still want to work with real people when it comes to their finances. A
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The banking world is changing fast thanks to new advances in artificial intelligence (AI). Banks see AI as a way to cut costs and boost efficiency, but there’s concern about what this means for workers. A recent report from digital bank Zopa and Juniper Research highlights both the potential savings and the risks to thousands
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Right now, the amount of money pouring into artificial intelligence is staggering. There are nearly 500 AI companies valued at over $1 billion each, called unicorns. Together, these companies are worth about $2.7 trillion. That’s a huge amount of cash that could shake the economy if things go wrong. For investors, though, this money feels
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Bank of America is making a big move in technology, but it’s not about flashy gadgets or quick tricks. Instead, they’re focusing on smarter solutions to improve banking for everyone. With a hefty $13 billion budget for 2025, the bank is putting a lot of money into AI and new tech, but more carefully and
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Financial advisors and investors have traditionally relied on outdated risk models that often fall short during major market disruptions. Now, a new technology called QuantumRisk is set to change how risk is measured and managed. Developed by Amplify Platform’s expert team, including Dr. Ron Piccinini, QuantumRisk leverages powerful computing and graphics processing units to analyze
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Artificial intelligence has been the hottest thing in tech lately. Big names like OpenAI, Microsoft, and Nvidia have seen their stocks soar, making it look like the industry is raking in huge profits. But if you look a little closer, the picture isn’t quite so bright. Behind the scenes, many experts say AI companies are
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