Anthropic launches its first big disruption to the finance industry
Why it matters: It's Anthropic's first big disruption for one industry: finance. And it won't be the last.
Wall Street sees adoption of AI-powered tools like these as rocket fuel for profits.
How it works: The idea is an AI tool that pulls in data from PitchBook, Morningstar and Daloopa all at once to answer analyst questions.
This paid plan will only be available for customers of the Claude Financial Analysis solution — a version of Claude for Enterprise specifically tailored to financial analysts.
Users will only get access to data from the platforms they're subscribed to, so if an analyst puts in a prompt about venture capital funding but doesn't have PitchBook, their answer might include data from another source, like Morningstar.
What they're saying:"How can you think about transforming the workforce with AI ... something that is actually purpose-built for a whole set of employees or for a whole industry?" Anthropic's chief revenue officer Kate Jensen tells Axios in an exclusive interview.
Jensen says finance was a natural first-choice sector to target, given demand from customers.
Between the lines: Why would firms want to partner with AI companies and risk taking eyeballs away from their own platforms? Because it makes their tools easier to use, making the value proposition more apparent, Anthropic says.
The intrigue: Analysts have described the financial sector as an area that's ripe for AI disruption, which could result in job loss, especially for junior employees.
Aaron Linsky, CTO, AIA Labs at Bridgewater, wrote in a statement provided by Anthropic that "Claude powered the first versions of our Investment Analyst Assistant, which streamlined our analysts' workflow ... with the precision of a junior analyst."
That quote might be scary if you're a junior analyst.
Catch up quick: Anthropic CEO Dario Amodei told Axios in May that AI could wipe out nearly half of all entry-level white-collar jobs.
Jensen agrees with Amodei's sentiment, but adds that it's important to consider how AI-first job expectations could evolve to create more opportunity.
"It's not displacement; it's evolution in a different way," she says, adding that she expects different things from her team now that they have Claude.
"They have to be better now, which is really fun as a manager. ... You have these tools at your disposal that allow you to be much more thoughtful, much more creative, do much more research than I might have expected two years ago."
The bottom line:"We're seeing corporate America adopt AI," said Lou Miller, global head of equity custom baskets at Goldman Sachs, on a company podcast. "There's going to be margin benefits there."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Axios
4 hours ago
- Axios
Atlanta public housing rent hike "pause" could shock Section 8 stock
Atlanta Housing is telling Section 8 landlords to pause plans for rent increases as federal funding uncertainty spreads to local governments. Why it matters: Roughly 11,000 Atlanta households will receive Housing Choice vouchers this fiscal year, according to the housing authority's budget. The vouchers help eligible residents spend no more than 30% of their income on rent and play a vital role in keeping tens of thousands of Atlantans in their homes. Between the lines: The rent hike pause could push some landlords to switch to market-rate tenants, short-term rentals or sales — shrinking Atlanta's supply of affordable housing and creating housing instability. The latest: In a July 15 message to landlords, Alan Ferguson, AH's chief housing and real estate officer, said the authority would not process rent increase requests for Housing Choice Voucher Program participants with contracts renewing on and after July 1 of this year. AH could "reconsider and reinstate" increases if Congress approves new funding or federal officials offer new guidance, Ferguson wrote in the message obtained by Axios. Context: Public housing authorities have been put on notice to expect funding cuts after President Trump called for sweeping changes to the U.S. Department of Housing and Urban Development, including a two-year limit on housing aid, according to the Associated Press. AH's 2026 fiscal year budget approved in early July is roughly $80 million less than the previous years' spending plan, WSB reports. The Housing Choice Voucher Program bore the brunt of those cuts; its funding dropped from $389.7 million to $338.58 million. Yes, but: Authority officials said their "goal is to keep our residents housed." They declined to immediately say whether funding earmarked for rent increases would fund other AH programs or operations. Stunning stat: Roughly 20% of Atlanta's multi-family rental housing is supported by AH assistance programs, Ferguson said. What they're saying: Dan Immergluck, a Georgia State University professor emeritus who's studied Atlanta's affordable housing crisis for nearly two decades, told Axios the pause would make it more difficult to find landlords to accept vouchers.
Business Insider
9 hours ago
- Business Insider
Eric Schmidt explains why he doesn't think AI is a bubble — even if it might look like it
Eric Schmidt took over as Google's CEO in the midst of the dot-com bubble burst. He doesn't anticipate the same fate for AI. The former Google executive explained why he didn't think the AI industry was in a bubble while speaking at the RAISE Summit in Paris. AI has expanded rapidly in the years since ChatGPT took off and Big Tech invested heavily in the industry and ignited a new talent war. With an estimated market value of $189 billion in 2023, it's projected to grow into a $4.8 trillion industry by 2033. While some may see signs of an eventual crash, Schmidt — who has investments in multiple AI companies, including Anthropic — pointed to hardware and the chips market as a specific sign that the market has longevity. "You have these massive data centers, and Nvidia is quite happy to sell them all the chips," Schmidt said. "I've never seen a situation where hardware capacity was not taken up by software." Schmidt, speaking about his conversations with AI executives, said that he's heard talk that the AI industry is in a "period of overbuilding," and that they'll hit "overcapacity in two or three years." "They'll say, 'But I'll be fine and the other guys are going to lose all their money,'" Schmidt said. "That's a classic bubble, right?" Then there's the other side of the debate, the Bay Area techies who think that reinforcement learning chains will transform the world. "If you believe that those are going to be the defining aspects of humanity, then it's under-hyped and we need even more," he said. Schmidt didn't side with either side — overcapacity or under-expansion — but he did weigh in on whether it was an industry facing a bubble-level correction. "I think it's it's unlikely, based on my experience, that this is a bubble," Schmidt said. "It's much more likely that you're seeing an whole new industrial structure." Not everyone agrees. On Wall Street, talk of a potential bubble continues to simmer. On Wednesday, Apollo Global Management's chief economist Torsten Sløk said that the stock market faces an even bigger bubble than the dot-com boom. The primary culprit, in his view: AI. "The difference between the IT bubble in the 1990s and the AI bubble today is that the top 10 companies in the S&P 500 today are more overvalued than they were in the 1990s," Sløk wrote.
Fox News
11 hours ago
- Fox News
AI can simulate a teacher, but it can't shepherd a soul
Across America, education is changing at a pace few could have imagined even a decade ago. Artificial intelligence is being deployed to train machines to teach our children. School systems are embedding gender ideology and political agendas into their curriculum with little regard for parental input. At the same time, traditional values are being pushed to the margins, and our students are caught in the middle. We're witnessing a moment that demands urgent attention: Will we preserve the soul of education, or surrender it to machines and ideologies that don't know the human heart? The recent announcement that Microsoft, OpenAI and Anthropic are launching an AI-powered "teacher training academy" is a sign of what's coming. At first glance, it sounds innovative, maybe even helpful. But the deeper question is this: What is education really for? Education is not merely about delivering information. It's about shaping lives. At its best, it forms character, teaches discernment and prepares students to serve their communities with integrity. That kind of formation can't be automated. It requires a relationship. It requires mentorship. It requires people. At Southeastern University, we're not anti-technology. In fact, we're actively exploring ethical ways to use AI to serve students and improve access to learning. But we draw a clear boundary: AI can assist educators, but it must never replace them. Because no machine, no matter how advanced, can love a student, model virtue or guide a young adult toward a life of purpose. We believe every student is made in the image of God, and that shaping a soul requires more than a circuit board. The deeper danger in this shift isn't just logistical, it's philosophical. When we hand over the role of teacher to algorithms, we're also handing over the power to decide what gets taught, how it's taught and what values are emphasized. In an era where AI is already reflecting and amplifying ideological bias, that should concern every parent and educator in America. Are we prepared to let unelected tech companies, with their own worldviews and profit motives, determine how future generations learn, think and believe? This is about more than machines. It's about the mission of education itself. We must reclaim education as a deeply human, deeply moral enterprise. We must elevate teachers, not replace them. We must ensure that classrooms remain spaces where students are not just informed but transformed, not just prepped for a career, but prepared for a calling. Now is the time for Christian colleges and universities to lead boldly. We must protect the relational core of learning, model truth-seeking without compromise, and remind our nation that the formation of a soul can't be outsourced. Let's use technology, but never be used by it. Let's build an educational future that reflects the dignity of every student, and the responsibility we have to shape them with wisdom, courage and conviction.
