Millennials Are Investing in Robotics and Artificial Intelligence
Morgan Stanley is getting into the “robo-advice” business, where software manages funds instead of people. The service, Access Investing, is aimed at younger investors, and helps them put their money with the businesses they’re most interested in.
“Forty percent of our clients have chosen to invest in a theme, and the most popular ones [are] robotics and artificial intelligence,” Naureen Hassan, Chief Digital Officer for Wealth Management at Morgan Stanley, told Cheddar.
The financial firm rolled out its Access Investing division, which focuses on advising clients online, in December. Hassan says that her team has seen a lot of engagement with from people 45 and under.
Robo-advisers, or digital investment portfolios, are not very new. The field has competitors, such as Betterment or Wealthfront, that have been making strides in the sector.
But Morgan Stanley says it’s betting on its legacy to differentiate itself in the industry.
“We think it’s the Morgan Stanley investing expertise that really differentiates it,” Hassan said. “That’s why we are offering clients choice, it just isn’t only a passive portfolio, we believe in a mix of assets.”
Technology-driven sustainable waste management platform, RoadRunner Recycling, recently raised a $70 million Series D round from BeyondNetZero, the climate investing venture of General Atlantic. RoadRunner says it creates and manages end-to-end waste and recycling solutions for businesses of all sizes and that its proprietary technology can boost cost savings and improve recycling rates for companies, which in turn drives sustainability for the waste industry and our world. RoadRunner Recycling founder and CEO Graham Rihn joined Cheddar News' Closing Bell to discuss.
Tech giant Microsoft is rolling out a platform designed specifically to help retailers manage their logistics on the cloud, amid some very trying times. Shelley Bransten, Microsoft CVP for global retail and consumer goods, joined Cheddar to explain how the cloud-based solution is meant to support retailers, workers, and the supply chain. "It's never been more important with all the challenges that we're seeing with the global supply chain that demand and supply come together," Bransten said. "And we use AI technology to help better predict that old adage of getting the right product to the right place to the customer at the right time."
Apple TV+ is in serious talks for the rights to stream MLB games next season, the first foray into sports content for the platform, according to the New York Post. Lee Berke, president and CEO of LHB Sports, sat down with Cheddar to discuss how such a deal might impact the tech giant and the sports content industry. "Quite often with new media platforms one of the quickest ways to create and implement a programming strategy — and actually one of the most expensive ways — is to offer up sports content," Berke noted. "So, with this package available, it puts Apple literally in the game and gives them an opportunity to demonstrate their skills in offering up a major league sport."
