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A new AI asset management tool is running into an old problem: poor data

Sep 20, 2023 - qz.com
Arabesque AI's platform, Aether, uses AI to analyze and predict financial market behavior, generating estimates of stock performance for over 25,000 companies. The platform pulls financial data from sources like Bloomberg or FactSet and uses sustainability metrics from Arabesque’s partner, ESG Book. The AI tool automates repetitive tasks for wealth managers, providing a condensed summary of the data needed for decision-making. However, the ultimate responsibility to buy or sell lies with the human asset manager.

The use of AI in investing strategies, such as Arabesque’s Aether, has attracted the attention of the US Securities and Exchange Commission (SEC), which has proposed new rules for AI-driven investment engines. Despite the slow adoption rate among financial advisors, Arabesque's chief technology officer, Nikolaos Kaplis, believes that the rise of younger investors will lead to swift and abrupt changes in the industry.

Key takeaways:

  • Aether, an AI platform for asset managers, was launched by Arabesque AI in 2019 and generates estimates of a stock’s performance for more than 25,000 companies.
  • Aether pulls financial data from sources like Bloomberg or FactSet and uses sustainability metrics from Arabesque’s partner, ESG Book.
  • Arabesque’s Aether is one of many tools that use AI to help with investing strategies, a category of products that has attracted the attention of the US Securities and Exchange Commission (SEC).
  • Arabesque believes that as new generations of investors come online, the adoption of AI tools like Aether will happen faster.
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