Welcome to another busy week in AI & Finance, where news dropped at a pace brisker than the wind screaming off the Atlantic Ocean during a nor’easter. 
Of course, before we get to all of our artificial intelligence and financial services headlines for this week, we’ll address a few of the new datapoints and goings-on in AI. The Capital Group delivered another 2025 outlook this week in which they claimed that AI might be both “overhyped” and bigger than people are giving it credit for—which sounds, at first pass, like the mutual fund firm’s analysts are trying to talk out of both sides of their mouths.
Still, we’ll add the Capital Group to the long list of investors who rank AI highly on their list of 2025 outlook topics. For the record, we have yet to find a 2025 outlook that doesn’t mention AI in some capacity, so there seems to be some consensus that AI will loom large over the next year.
But it was another report, this one from HSBC, that really explains why. Rather than a general investment or economic outlook for 2025, this HSBC report focuses on venture capital activity.
According to HSBC, venture investment in artificial intelligence companies is approaching the scale of capital allocated to all other companies combined. In other words, nearly half of all of the venture capital deployed as I write this is dedicated to AI-oriented companies. This is just a fraction of the total spending on AI, as existing companies, including mega-cap technology companies with very large R&D budgets, are also pouring resources into artificial intelligence.
It’s difficult to imagine that, with all of this investment into the technology, more returns aren’t seen in 2025. Of course, those returns won’t necessarily be financial in nature, but it seems like a near certainty that there will be a lot more going on in AI in six months from now than there is today. Looking back to AI & Finance entries past, and we’ve been doing this for a while now, there’s so much more to talk about today than there was when we launched.
And we’re still just getting started!
Of course, here’s where I tell you that HSBC’s report isn’t all sunshine and daisies (though there are some unicorns mentioned). Technology startups will be challenged by a deceleration in exits—the rate at which these venture capital-supported companies are going public or being sold is declining. In particular, non-AI startups are having difficulty finding acquirers and purchases due to the growing focus on artificial intelligence. The result is that more venture money is locked up for ever longer periods of time. HSBC also expects that potential economic volatility may impinge on venture investment. On the other hand, deregulation and supportive fiscal policies may counter the negative trends.
Let’s get to some headlines.
1. Alpha
Alpha, a new artificial intelligence mobile app for real-time market insights, is launching today, giving individual investors an intelligence layer to receive real-time updates on the market, allowing them to make more informed investing decisions.
Alpha initially debuted in 2023 for members of Public’s investing platform and since then, 90% of all monthly active members have used it for market research and to get key insights on stocks in their portfolio. This widespread adoption inspired the launch of Alpha as a standalone mobile app that all investors, regardless of their brokerage, can use to easily access real-time market data, research companies, and get immediate notifications on why certain stocks are moving.
More and more investors are using AI to support their research and stay up to date on what is happening in the market. In Public’s annual retail investor survey, 63% of investors on Public’s platform said that AI will likely become a standard tool for research in the future, and many said that AI makes it easier to process financial information and identify trends in the market. Additionally, 66% of Public investors stated that they are somewhat to very interested in using AI in the future to conduct their research.
2. Arok VC
Arok VC, the world’s first artificial intelligence agent to raise a venture capital fund and devise its own investment thesis, has autonomously raised $800k from a collection of retail investors. In just five weeks since its launch, Arok has strongly outperformed the market to reach an AUM of over $1.3m representing a return on investment of 57%.
Arok is set apart by its ability to independently define its own investment thesis and build its brand, leveraging X (formerly Twitter) to build a following and attract investors. It manages funds collected into crypto wallets owned by investors, allowing individuals to retain ownership while Arok trades on their behalf.
Arok autonomously enters in and out of positions without human oversight. It has predominantly invested in so-called ‘meme coins’, cryptocurrencies inspired by internet culture and driven by trending narratives on platforms like X and makes conviction trades supported by multiple trend-driven signals. Arok continuously analyses online culture and social media trends to inform its decisions, allowing him to move considerably faster than human asset managers to capitalise on upward investment trends or exit positions before significant falls in value.
Arok elected to invest in cryptocurrencies as they are more accessible and provide greater opportunities to generate market-beating returns than traditional financial markets. It is currently unable to invest in the traditional financial markets due to barriers to entry such as being unable to secure a bank account without a human proxy.
3. Blue J
Blue J, a leading provider of generative AI-powered tax research to accounting and tax professionals, announced its Series C funding round led by Ten Coves Capital, a growth equity firm specializing in financial technology. The investment will accelerate Blue J’s mission to transform tax research by delivering instant, reliable answers that combine advanced AI technology with authoritative content from leading sources including Tax Notes, a widely respected publication of tax news, analysis, research and reference tools.
Blue J’s innovative platform stands apart through its unique integration of AI technology with comprehensive tax content, including Tax Notes, regulations, case law, administrative rulings, and expert commentary. Unlike traditional research tools that require tedious manual navigation of multiple sources, Blue J’s conversational interface instantly synthesizes complex information streams into clear, actionable insights that reflect the latest developments in tax law. This empowers users to not only conduct research more effectively, but also to leverage the platform’s capabilities for drafting memos, composing emails, and much more.
Following the launch of the latest version of Blue J’s tax research platform in August 2023, the company has amassed more than one thousand clients, including Big 4 accounting organizations, top 100 US CPA firms, and Fortune 100 companies. Usage metrics continue to grow in tandem – by the end of November 2024, Blue J was answering more than 100,000 tax research questions from users in the previous 30 days.
4. The Hartford
The Hartford, a leading provider of employee benefits and absence management services, is enhancing its relationship with Workday, Inc., a leading provider of solutions to help organizations manage their people and money, by becoming a strategic Workday Wellness partner.
Workday Wellness, an AI-powered solution, will be designed to connect employers and employees to top wellness partners, offering a highly personalized experience that reduces costs and administration hours. Leveraging Illuminate and Workday Peakon Employee Voice, it will provide companies with real-time insights into which benefits and wellness offerings their employees want and use so they can improve programs and seamlessly add new offerings.
This new strategic partnership furthers The Hartford’s current relationship with Workday, as an Innovation Partner, and will enable employer-customers of both companies to benefit from faster data integrations, comprehensive implementation support, and real-time data exchange. Workday Wellness will further help employers measure effectiveness and adapt their benefits to better meet their employees’ needs.
5. Interactive Brokers
Interactive Brokers (Nasdaq: IBKR), an automated global electronic broker, announced the introduction of AI-generated news summaries to its News & Research offering. This advanced feature, available at no additional cost, enables clients to access concise summaries of news articles, streamlining insights from leading providers and making it easier for investors to stay informed.
Leveraging the power of AI, this tool extracts market-relevant information, allowing clients to quickly scan for important updates and giving them more time to make informed decisions and manage their portfolios. This, along with the ability to filter news related to stocks in portfolios and watchlists, makes it easy for users to stay updated on coverage directly impacting their investments.
The AI-generated news summaries feature is available to eligible clients of the Interactive Brokers affiliates in Canada, the UK, Ireland, Hong Kong, Singapore, Australia, and Japan. Interactive Brokers is discussing with its regulators a potential expansion of AI-generated new summaries to clients of IB LLC.
6. Intuit
Intuit Inc. (Nasdaq: INTU), the global financial technology platform that makes Intuit TurboTax, Credit Karma, QuickBooks, and Mailchimp, and ICIC, the foremost authority on accelerating small business growth in under-resourced communities, announced today the launch of the Intuit More with AI Tour, a nationwide roadshow to educate small and mid-market businesses about the transformative potential of artificial intelligence (AI) and advocate for policies that support business adoption of this technology. Through this initiative, Intuit and ICIC aim to demystify AI, promote its responsible use, and advocate for policies that facilitate appropriate AI adoption among small and mid-market businesses.
Intuit and ICIC will host six events across the United States, starting in early 2025. These half-day events will provide local small and mid-market businesses with actionable insights and hands-on experience on a range of small business AI tools from Intuit and other companies. Curriculum will include practical applications, benefits, and responsible implementation strategies, all at no cost to attendees.
The Intuit More with AI Tour will initially visit Georgia and California, with more states and cities to follow. The selection process will prioritize areas with a high concentration of small and mid-market businesses and a demonstrated need for AI education and support.
7. MSCI
MSCI Inc. (NYSE: MSCI), a leading provider of critical decision support tools and services for the global investment community, announced that June Yang, former Vice President, Cloud AI and Industry Solutions at Google Cloud Inc., has been appointed to serve as an independent director on MSCI’s Board of Directors (the “Board”), effective today.
Ms. Yang previously served as Vice President, Cloud AI and Industry Solutions at Google Cloud Inc. from October 2021 to December 2023, where she was responsible for the portfolio of Google Cloud AI products and solutions. Previously at Google Cloud, she served as Vice President and General Manager, Google Compute, AI Infrastructure and Block Storage from October 2019 to October 2021. Prior to joining Google Cloud, Ms. Yang held various engineering and product management positions at VMware, Inc., including Vice President, Engineering and Product Management of VMware Cloud on Dell EMC and Vice President, Product Management of vSphere, Edge Computing and Analytics Cloud. Ms. Yang has served as a director of NetApp, Inc. since September 2024 and a director of UiPath, Inc. since February 2024. Ms. Yang previously served as a director at SRS Distribution from Nov 2022 until its acquisition in July 2024. Ms. Yang holds a Bachelor of Science degree in Chemical Engineering from the California Institute of Technology, a Master of Science degree in Chemical Engineering from the University of California, Berkeley and a Master of Science degree in Management from the Stanford University Graduate School of Business.
8. NICE
NICE (Nasdaq: NICE) today announced that Fulton Bank, a financial service holding company, is taking the next step in its digital transformation by selecting NICE’s Enlighten-powered agent assist and self-service solutions. Fulton Bank selected CXone Mpower Copilot, CXone Mpower Autopilot, and the enhanced knowledge management solution CXone Mpower Expert, to transform its digital self-service capabilities and level up agent augmentation with generative AI. With NICE’s innovation, Fulton Bank will improve efficiencies for employees and members with a consolidated knowledge base as part of the CXone Mpower platform that will increase customer satisfaction with faster resolutions.
Powered by Fulton Bank’s knowledge base to provide a single source of truth, Autopilot will help members use self-service in an omnichannel experience. To further improve the agent experience, Copilot will provide relevant member information in real-time to assist Fulton Bank employees during an interaction along with helpful next-best actions using Generative AI trained on Fulton Bank’s knowledge articles to answer a member’s needs. With the ultimate AI hyper platform for customer service automation, Fulton Bank is deploying cutting edge innovations to design, build and operate agents, workflows, and knowledge.
9. Options Technology
Options Technology (Options), the world’s leading managed service provider (MSP) in capital markets infrastructure and technology, today announced the successful deployment of its AtlasFabric and AtlasFeed offerings for market data and trading infrastructure services at the Saudi Exchange’s Tadawul Data Center in Riyadh, KSA, (Kingdom of Saudi Arabia).
This significant milestone marks a pivotal moment in Options’ continued global expansion, bringing advanced technology solutions to clients into the MENA region whilst also providing seamless access for clients from other regions to enter this market via low latency infrastructure via the firm’s recently launched Atlas product suite.
10. Pegasystems
Pegasystems Inc. (NASDAQ: PEGA), The Enterprise Transformation Company™, today announced a new edition of Pega Smart Investigate™, including expanded automation and generative AI capabilities to help banks process payment exceptions and investigations faster and more efficiently. With a dramatically improved user interface, the new Pega Smart Investigate Enterprise Edition enables end-to-end process automation and supports the latest ISO 20022 standards to help financial institutions tackle the growing volume of payment exceptions while reducing operational costs and improving client satisfaction.
Banks around the world are racing to meet the goal set by the G20 to process cross-border payments in under an hour by 2027. But with the increasing volume of global sanctions and ever-changing payment standards, many banks struggle due to outdated systems, manual and siloed processes, and already strained resources. Banks need ways to automate more of these costly payment exceptions and investigations to meet the increasing expectations from clients.
With an updated modular architecture, Pega Smart Investigate Enterprise Edition adds extensive automation capabilities through the entire payment investigation lifecycle. This significantly reduces manual work and brings complex cases to resolution much faster. As the leading ISO 20022 compliant solution with MT and ISO interoperability, Pega Smart Investigate Enterprise Edition builds on its decades of market leadership to quickly orchestrate and automate exceptions for even the most complex cross-border payment scenarios.
11. Pegasystems
Pegasystems Inc. (NASDAQ: PEGA), the Enterprise Transformation Company™, today introduced the next generation version of its market-leading Pega Smart Dispute™ offering, including new generative AI and automation features that helps banks accelerate resolution of disputes and fraud claims for any type of payment. With the new Pega Smart Dispute Enterprise Edition, banks can now resolve complex disputes and claims even faster across a wider range of payment types, all through a single, powerful, and time-tested Pega solution.
Banks worldwide are facing a massive surge in chargeback requests, which are costly and time-consuming to process. Research firm Datos Insights found customers disputed $11 billion worth of charges in the U.S. last year alone, with this figure expected to rise 40% by 2026. The adoption of alternative payment methods beyond Visa and Mastercard has surged in recent years with significant growth in mobile wallet payments, peer-to-peer payments, buy now pay later (BNPL), and real/near-real time payment systems. Banks must navigate this ever-growing array of global and regional payment types while working across a complex web of evolving chargeback policies, often across siloed systems.
Trusted for decades by dozens of the top global banks to handle card payment disputes, Pega Smart Dispute Enterprise Edition can now process any possible payment type more efficiently and effectively with gen AI and expanded automation capabilities.
12. SAS
Turkish insurer Neova Sigorta, in collaboration with data and AI company SAS and SAS Partner Sade Software & Consultancy, has launched an initiative to offer better auto insurance premium prices to up to 95% of its customers. The project, among the first of its kind in the Turkish market, will use artificial intelligence in the form of advanced machine learning (ML) to optimize how it prices auto insurance. This advancement is projected to save Neova Sigorta’s customers money – and decrease overhead costs for the insurer.
Neova Sigorta selected SAS® Dynamic Actuarial Modeling, a pricing solution with AI-based premium modeling for general and life insurers, as its platform of choice for its transformation. Software and consultancy firm Sade Yazılım will be the initiative’s integrator.
Similar collaborations between SAS and SADE demonstrated that the right pricing policy can increase sales up to 15% and decrease the insurer’s combined ratio by 10%.
13. Upbound Group
Upbound Group, Inc. (“Upbound” or the “Company”) (NASDAQ: UPBD), a technology and data-driven leader in accessible and inclusive financial products that address the evolving needs and aspirations of underserved consumers, today announced it has entered into a definitive agreement to acquire Brigit, a leading financial health technology company, for total consideration of up to $460 million consisting of cash and shares of Upbound common stock. This transaction is a logical next step reflecting Upbound’s strategic focus on expanding its technology-driven financial solutions for consumers who are underserved by the traditional financial system.
Brigit, which offers a subscription-based model, was launched nationally in 2019 to expand financial inclusion and help consumers build a brighter financial future. It is consistently ranked among the most downloaded financial health apps and is a recognized leader in innovation in the industry. Built on proprietary artificial intelligence and machine learning-powered cash flow data insights, Brigit’s core product is its direct-to-consumer Instant Cash advance product (earned wage access or EWA) which has saved its users approximately $1 billion in overdraft fees since inception2. Brigit also offers a credit builder product that helps its subscribers build their credit history over time as they increase their savings, as well as financial wellness solutions and educational resources to help consumers better manage, save, and earn money. Brigit currently serves nearly two million monthly active customers, including over one million active paying subscribers and almost one million free subscribers. Their customers are highly engaged, with paid users logging in on average six times per month. The business is expected to generate revenues of approximately $215 million to $230 million in 2025 and approximately $350 million to $400 million in 2026.
Brigit will expand Upbound’s offerings of innovative and flexible financial solutions, positioning the combined company to create an industry-leading technology platform for the financially underserved that meets the consumer wherever they are on their financial journey. In addition, Brigit’s proprietary data and sophisticated tech stack are expected to enhance Upbound’s existing brands, including Acima and Rent-A-Center (RAC), by improving risk management and fraud prevention, enabling more customer approvals while also mitigating net losses and enhancing account management. The combined company’s data-driven insights will create a more personalized customer experience with the ability to deliver, at the right time and through the right channels, a wider range of targeted solutions for consumers. Upbound expects these enhancements to boost conversion rates, lower churn, and increase customer loyalty and engagement.
14. Vise
Vise, a technology-powered asset management platform that delivers personalized portfolios at scale, today announced that Manhattan West has rejoined its platform. The Los Angeles-based wealth management and alternative investments firm, which manages over $1 billion in assets, serves high-net-worth individuals, families, and institutions.
Manhattan West was an early client and among the first to recognize the potential of Vise’s technology. The renewed relationship follows significant platform improvements by Vise, including enhanced tax transition, tax-loss harvesting, and overall tax management capabilities. These enhancements directly align with Manhattan West’s service approach, focusing on tailored solutions for high-net-worth clients.
This partnership marks a pivotal step in Vise’s mission to transform wealth management by saving advisors countless hours, reducing operating costs, and enabling service to a greater number of clients. Together, Vise and Manhattan West seek to redefine wealth management by combining concierge-level service with cutting-edge technology. With automated portfolio management capabilities all on one platform, we believe advisors are now better positioned than ever to deliver meaningful results for clients in a rapidly evolving landscape.
15. Wolters Kluwer
Wolters Kluwer Tax and Accounting (TAA) today announced the launch of expanded AI capabilities in CCH® AnswerConnect, introducing a new conversational AI feature. Following the recent integration of CCH AnswerConnect with CCH Axcess™ Tax in October, this enhancement is designed to provide users with faster, more efficient, and natural interactions when searching for tax answers. These innovations are part of Wolters Kluwer’s ongoing efforts to transform tax professionals’ workflows.
The new conversational AI feature allows tax professionals to engage in back-and-forth text chat conversations within CCH AnswerConnect, enabling quicker and more seamless access to exclusive and continuously updated content.
16. Wolters Kluwer
Wolters Kluwer Tax & Accounting (TAA) Germany today announced the release of new GenAI capabilities within its award-winning tax software SteuerSparErklärung, part of the Steuertipps family of solutions for personal income tax. This new version introduces an AI-powered digital assistant, “Alma”, that is capable of efficiently interpreting questions asked in everyday language and ensuring swift and proficient responses by harnessing over 45 years of expert knowledge within Wolters Kluwer Steuertipps. The SteuerSparErklärung also features a streamlined navigation system, enabling users to navigate through their tax returns swiftly and securely.
In addition to Alma, SteuerSparErklärung offers an enhanced user interface complete with simplified navigation, new input fields, and visual standardization, designed to guide users quickly and effortlessly.
