*By Bridgette Webb*
Artificial intelligence capabilities have grown exponentially in recent years, and the industry may soon disrupt the asset management sector. Art Amador, EquBot co-founder and COO, is confident the growth will continue ー primarily because machines do all that humans cannot.
"It's impossible for even an army of research analysts to really do what the machine is doing," Amador said Monday in an interview on Cheddar. "The high-level concept is that the A.I. mimics the investment process of an army of research analysts that are working around the clock."
Launched in 2017, EquBot's AIEQ became the first exchange traded fund to use A.I. technology for stock selection.
The fund's introduction coincides with major traction for A.I. on Wall Street. Banking titans like Morgan Stanley and Wells Fargo have launched programs that help analysts with earnings reports and issue stock trade recommendations.
The ETF is up 14 percent so far this year, outpacing the S&P 500.
But the promise of A.I. also stirs the anxiety of finance workers. According to a survey by [Greenwich Associates](https://www.greenwich.com/press-release/artificial-intelligence-coming-disruption-wall-street), finance jobs are among the most at-risk from A.I.
Despite the potential for job loss, Amador still maintains that A.I. will lead to more possibility, not less.
"A.I. is more of a tool," he said. "So we believe it's going to make people more productive. A portfolio manager can manage, instead of four or five portfolios, maybe 20. Or an analyst, instead of covering 30 names, could cover 300 names."
For full interview [click here](https://cheddar.com/videos/why-tesla-bull-ross-gerber-says-he-is-standing-by-automaker).
The trial between Google and the maker of the game Fortnite will begin Monday as a San Francisco jury will hear Epic Games' case claiming the Google Play Store takes an unfair commission on purchases made through apps.
One of the most self-made and success stories in the country, Emma Grede, has worked along with the Kardashian Jenner family on many of their best-known brands. Grede, CEO and co-founder of Good American, gave back to the next generation of business leaders as a featured speaker at the Chase for Business Make Your Move summit last week. She spoke with Cheddar News about her career, her company's fashion brand, working with the famous Kardashian-Jennifer family and balancing her own family life.
Berkshire Hathaway, the conglomerate run by businessman Warren Buffett, reported its operating earnings in its most recent quarter jumped more than 40% from a year ago but posted its first net quarterly loss in a year.
Elon Musk's company XaI has announced a new chatbot called Grok.
SAG-AFTRA said over the weekend that it received the studios' last best and final offer following a meeting on Saturday, with the union saying it's reviewing it and considering a response "within the context of the critical issues addressed in our proposals."
Stocks rose slightly as Wall Street looks to continue its momentum with earnings season winding down.
Tyson Foods is recalling about 30,000 of its dino-shaped chicken nuggets after some consumers reported finding small metal pieces in those nuggets.
Google on Monday will try to protect a lucrative piece of its internet empire at the same time it’s still entangled in the biggest U.S. antitrust trial in a quarter century.
Before the SAG-AFTRA strike, this was the weekend “Dune: Part Two” was supposed to open. When Warner Bros. and Legendary pushed that opening back to March 2024 and no other blockbuster stepped in to take its spot.
A growing number of Californians are planting agave to be harvested forz use in spirits. The trend is fueled by the need to find hardy crops that don’t need much water and a booming appetite for premium alcoholic beverages.
