Anthropic targets financial advisers with new Claude tool
The launch comes days after rival OpenAI introduced a version of ChatGPT for the industry.
On September 14, AI research firm Anthropic unveiled a suite of new tools tailored for financial advisors. These tools link Anthropic's Claude chatbot to investment analytics and wealth management software from prominent firms such as BlackRock, Charles Schwab, and Addepar. Dubbed Claude for Financial Advisors, this product aims to assist financial service providers in preparing for client meetings, reviewing portfolios, and managing follow-up tasks.
The launch follows shortly after OpenAI introduced a version of ChatGPT aimed at investment bankers and equity researchers, equipped with tools for financial research, modeling, and creating client materials. This move further cements Anthropic's growing involvement in the financial sector, where the company has previously developed applications based on its Claude AI model for investment research, portfolio analysis, financial modeling, and client materials preparation.
Anthropic's latest offering integrates Claude with data and software from companies including Envestnet, iCapital, Orion, Wealthbox, Wealth.com, and Zocks. This announcement arrives amid heightened scrutiny over the rapid pace and escalating costs of AI development, as industry leaders grapple with questions about the sustainability of such spending and the appropriate speed of technological advancements amidst growing concerns over potential misuse.
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