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.”
President Trump called out Amazon in an early morning tweet Thursday, saying he's concerned the company pays "little or no taxes." This follows reports that the president wants to go after Amazon. Immediately following these reports, Amazon stock tanked, losing billions of dollars in market cap. This is not the first time Trump has attacked Amazon.
Facebook is making changes to its data-sharing practices in the wake of the Cambridge Analytica scandal. The social media company announced late Wednesday that it would stop sharing user information with third-party data firms. This strategy has been at the core of Facebook's business for the past few years.
Bryan Cranston, star of the hit show "Breaking Bad," joins us to talk about this new project. He's the co-creator of "The Dangerous Book for Boys," a new TV series which will stream on Amazon Prime. Fans won't see him on camera, but they will see actress Erinn Hayes. Cranston and Hayes tell us what to expect from the family-friendly show. It premieres on Amazon this Friday, March 30th.
Later this year, Jaguar will provide Waymo with its first I-Pace electric vehicle. It will then be fitted with self-driving tech and begin testing, says Dave Larsen, Jaguar's U.S. Product Planning Manager. The two companies hope to roll out about 20,000 autonomous vehicles by 2020.
By growing so quickly and with such scale, the cryptocurrency market almost brought the investigation by the SEC on itself. "[It] is a situation that regulations cannot ignore," says Paul Vigna, reporter at the Wall Street Journal and author of "The Truth Machine."
Facebook is making changes to its data-sharing practices in the wake of the Cambridge Analytica scandal. The social media company announced late Wednesday that it would stop sharing user information with third-party data firms.
President Trump called out Amazon in an early morning tweet today, saying he's concerned the company pays "little or no taxes." This follows reports that the president wanted to go after Amazon.
The driverless car revolution won't fully take over in the near term because safety needs to be mastered first, says Jeff Bracken, Group Vice President of the luxury carmaker. His comments come after Uber's fatal autonomous car crash last week, which has left the industry reeling.
In a bid to lure millennials, the luxury carmaker is testing out the new strategy with various pricing models, says Jeff Bracken, Lexus Group Vice President. The carmaker unveiled the Lexus UX model at the New York International Auto Show on Wednesday.
For the full interview, [click here](https://cheddar.com/videos/lexus-unveils-a-new-compact-crossover-for-the-urban-explorer).
Facebook may warn users about how their data could be used, but Quartz's David Yanofsky says most people don't understand the full extent of that. And like other addictive products, they're unlikely to give up on it so easily.
The chipmaker pulled testing for its autonomous technology Tuesday, about a week after one of Uber's driverless cars killed a pedestrian. The Verge's Andrew Hawkins says the big players are "trying to be cautious."
