Latest news with #AndrewLo
Economic Times
23-07-2025
- Business
- Economic Times
AI will be ready to manage your money in 5 years: Andrew Lo
A year ago, Andrew Lo asked ChatGPT for its opinion on Moderna, a biotech stock that soared during the pandemic era. The advice: sell. He didn't. The stock plunged. ADVERTISEMENT Now Lo, a finance professor at the Massachusetts Institute of Technology and leading AI expert, believes the same kind of technology that nailed the stock call could soon do far more. Not just dispense advice, but manage money, balance risk, tailor strategies-and meet one of finance's highest duties: acting in a client's best interest. Within five years, he predicts, large language models will have the technical capability to make real investment decisions on behalf of clients. Lo, 65, has long bridged the worlds of finance and technology. He co-founded QLS Advisors, a firm that applies machine learning to health care and asset management, and helped pioneer quantitative investing when it was still viewed as fringe. He believes that generative AI, despite its flaws, is fast approaching the capacity to parse complex market dynamics, weigh long-term risks, and earn the kind of trust typically reserved for human advisers. "This could be in the form of the so-called agent AI where we have agents that are working on our behalf and making decisions on our behalf in an automated fashion," Lo said in an interview. "I believe that within the next five years we're going to see a revolution in how humans interact with AI." The idea still sounds radical on Wall Street, where ChatGPT-style tools are mostly confined to junior-level work such as data collection and analysis. Yet Lo's vision goes beyond that: under the right regulatory guardrails, AI could evolve from a hard-working but rigid researcher to meet one of finance's highest bars: the fiduciary standard.
Time of India
23-07-2025
- Business
- Time of India
AI will be ready to manage your money in 5 years: Andrew Lo
A year ago, Andrew Lo asked ChatGPT for its opinion on Moderna, a biotech stock that soared during the pandemic era. The advice: sell. He didn't. The stock plunged. Now Lo, a finance professor at the Massachusetts Institute of Technology and leading AI expert, believes the same kind of technology that nailed the stock call could soon do far more. Not just dispense advice, but manage money, balance risk, tailor strategies-and meet one of finance's highest duties: acting in a client's best interest. Within five years, he predicts, large language models will have the technical capability to make real investment decisions on behalf of clients. Explore courses from Top Institutes in Please select course: Select a Course Category Operations Management Healthcare Finance Data Science Cybersecurity Project Management MBA Data Science CXO Technology Others Leadership Management Product Management Digital Marketing MCA Design Thinking healthcare Artificial Intelligence PGDM Public Policy Degree Data Analytics others Skills you'll gain: Quality Management & Lean Six Sigma Analytical Tools Supply Chain Management & Strategies Service Operations Management Duration: 10 Months IIM Lucknow IIML Executive Programme in Strategic Operations Management & Supply Chain Analytics Starts on Jan 27, 2024 Get Details Lo, 65, has long bridged the worlds of finance and technology. He co-founded QLS Advisors, a firm that applies machine learning to health care and asset management, and helped pioneer quantitative investing when it was still viewed as fringe. He believes that generative AI, despite its flaws, is fast approaching the capacity to parse complex market dynamics, weigh long-term risks, and earn the kind of trust typically reserved for human advisers. "This could be in the form of the so-called agent AI where we have agents that are working on our behalf and making decisions on our behalf in an automated fashion," Lo said in an interview. "I believe that within the next five years we're going to see a revolution in how humans interact with AI." The idea still sounds radical on Wall Street, where ChatGPT-style tools are mostly confined to junior-level work such as data collection and analysis. Yet Lo's vision goes beyond that: under the right regulatory guardrails, AI could evolve from a hard-working but rigid researcher to meet one of finance's highest bars: the fiduciary standard.
Borneo Post
04-06-2025
- Business
- Borneo Post
SBEU calls out committee overseeing MTUC for 'overstepping mandate' on congress exclusion from ILC
Andrew Lo KUCHING (June 4): The Sarawak Bank Employees Union (SBEU) has criticised the Joint Special Committee (JBK) overseeing the Malaysian Trades Union Congress (MTUC) for allegedly overstepping its mandate by protesting the government's decision to exclude MTUC from the International Labour Conference (ILC) in Geneva, Switzerland. SBEU chief executive officer Andrew Lo said the union had been made aware that the JBK had misused its platform to issue a protest statement. 'We are very concerned at such a statement as this is not within the mandate of the Joint Special Committee to nominate any officials to be a delegate. 'In absence of such a nomination, the government is unable to grant credentials from MTUC,' he said in a statement. Lo, who is also Labour Law Reform Coalition (LLRC) deputy president, pointed out that the JBK was only empowered to conduct a Special Delegate Conference to elect new MTUC office bearers, and to administer MTUC affairs temporarily. 'On 21 Feb 2025, pursuant to a High Court Order (with the consent of the disputing parties), a Joint Special Committee shall be formed for the Malaysian Trades Union Congress with very specific role to conduct a Special Delegate Conference to elect new office bearers. 'Such Special Delegate Conference shall be carried out within 90 days from February 21, 2025, to i.e. May 22, 2025. 'It is unfortunate that the Joint Special Committee was unable to conduct the Special Delegate Conference within the stipulated time. As a result, as to date, there is no new officer bearers to carry out the functions of MTUC.' He stressed that by the consent order, the JBK's only role was to hold the Special Delegate Conference and to perform administration of MTUC until May 22 this year. 'It does not give the Joint Special Committee the mandate to nominate anyone to be a delegate of, or to represent MTUC, at any conference or organisation. 'Such actions may be seen as contempt of Court and MTUC may be sanctioned by the court,' he said. Lo stressed that it is imperative that MTUC gets its internal issues in order. 'This is so that we can play our proper role to represent the interest of workers in Malaysia. 'These should be the priority instead of harping about attending a foreign conference,' he said. On June 3, MTUC JBK chairman J Solomon in a statement had expressed shock over the failure of the Ministry of Human Resources to include MTUC, which is the official workers' representative in the official Malaysian delegation, in the ILC for the first time ever. 'The ministry has registered 40 government officials and eight employer representatives, but not a single representative from MTUC. 'This is a clear violation of the ILO Constitution, which requires full tripartite representation,' he said. He described the exclusion as an 'extreme embarrassment to Malaysia and the ministry officials especially when it is currently the chairman of the Asean.' 'It is an action that equates to backward countries like of Myanmar,' he said. He said MTUC has since filed a formal complaint with the ILO Credentials Committee over this serious breach.
Yahoo
30-05-2025
- Business
- Yahoo
Posthaste: U.S.-Canada trade war getting in the way of RESP contributions
The Canada-United States trade war is affecting anxious Canadian parents' ability to save for their children's education, according to a new study by registered education savings plan (RESP) provider Embark Student Corp. Almost two-thirds of parents are concerned about trade tensions and nearly half said it has impacted their ability to save for their child's education, according to the survey of 1,000 parents with children under the age of five. And 60 per cent said it has changed how they approach savings and 55 per cent said it has impacted their investment strategies. These tariff anxieties are only adding to the mounting challenges facing new parents today, including a lack of sleep and the rising cost of education. Almost 80 per cent of parents said they are regularly woken up by their children, with 41 per cent indicating they are getting six or fewer hours of sleep per night and 37 per cent admitted to making financial decisions they regretted while being sleep-deprived. 'This survey shows that new parents are facing a perfect storm: a lack of sleep, everyday challenges of raising young children, rising costs, and now, trade tensions,' Andrew Lo, chief executive of Embark, said in a press release. The most common reason parents gave for not opening an RESP was not having enough money, followed by fear of their financial situation changing and worries about having to make regular contributions. Rising education costs have increased the challenge. Children born in 2024 are projected to pay 36 per cent more compared to today, according to Embark's estimates. However, 82 per cent still consider their child's education a top priority, ranking higher than the 77 per cent who said paying down debt and the 72 per cent who said saving for retirement were a top priority. A majority of the parents surveyed spend a lot of time thinking about how they'll pay for post-secondary education and wish they had more knowledge about saving and investing for it. Lo recommended shifting from a 'saving is impossible' to an 'every little bit counts' mindset to navigate economic uncertainty. 'It's easy to get discouraged by market volatility, but even contributing a little each month to your child's RESP can make a big difference over time,' he said. 'Government grants alone can match up to 20 per cent of your RESP contributions, delivering immediate value before factoring in compound growth and investment gains.' But the outlook is gloomy for many Canadian parents, with 67 per cent believing it's difficult to balance their family's current needs with their long-term financial goals and 21 per cent who think Canada-U.S. trade relations have permanently changed for the worse. to get Posthaste delivered straight to your U.S. economy shrank at the start of the year, restrained by weaker consumer spending and an even bigger impact from trade than initially reported. Gross domestic product decreased at a 0.2 per cent annualized pace in the first quarter, the second estimate from the Bureau of Economic Analysis showed Thursday. That compared with an initially reported 0.3 per cent decline. The economy's primary growth engine — consumer spending — advanced 1.2 per cent, down from an initial estimate of 1.8 per cent and the weakest pace in almost two years. Meantime, net exports subtracted nearly five percentage points from the GDP calculation, slightly more than the first projection and the largest on record. The slight upward revision in GDP reflected stronger business investment and a greater accumulation of inventories. Federal government spending wasn't as much of a drag as originally reported. — Bloomberg Today's Data: Canada real GDP for the first quarter, monthly real GDP for March, Ottawa's fiscal monitor for March, United States personal income and consumption for April, advance economic indicators report for April and University of Michigan consumer sentiment index for May Earnings: Lowe's Cos. Inc., Laurentian Bank of Canada, Canopy Growth Corp. Trump's move to block foreign students from Harvard sends shockwaves within Canadian circles David Rosenberg: Latest labour data shows Canadians are begging the Bank of Canada for renewed rate relief Noah Solomon: You can't always get what you want — the tariff rendition How spousal RRSPs can reduce taxes without getting you in trouble Summer often ushers in a more carefree financial attitude, but with lingering higher interest rates and the current geopolitical climate affecting household budgets, funds for summer fun might be limited, especially when also dealing with debt. When you are feeling financial strain, typical trips involving travel, lodging, and daily expenses might seem unrealistic. However, with careful planning and a focus on budget-friendly choices, a memorable summer without overspending is possible, writes Mary Castillo. Find out more. Are you worried about having enough for retirement? Do you need to adjust your portfolio? Are you starting out or making a change and wondering how to build wealth? Are you trying to make ends meet? Drop us a line at wealth@ with your contact info and the gist of your problem and we'll find some experts to help you out while writing a Family Finance story about it (we'll keep your name out of it, of course). Want to learn more about mortgages? Mortgage strategist Robert McLister's Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won't want to miss. Plus check his mortgage rate page for Canada's lowest national mortgage rates, updated daily. Visit the Financial Post's YouTube channel for interviews with Canada's leading experts in business, economics, housing, the energy sector and more. Today's Posthaste was written by Noella Ovid with additional reporting from Financial Post staff, The Canadian Press and Bloomberg. Have a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at posthaste@ How Canada and Mexico could grow trade amid U.S. tariff fallout 'Buy Canadian' boosts beauty business. Will tariffs end up reversing that?
Yahoo
30-05-2025
- Business
- Yahoo
Crystal International Advances Smart Manufacturing
Crystal International Group Limited released its 2024 sustainability report outlining the apparel manufacturer's sustainability vision, strategies, key initiatives, achievements, and performance. The Hong Kong-based company produces denim, lifestyle apparel, sportswear and outdoor apparel, intimates, knits and fabrics across its production facilities in Vietnam, China, Cambodia, Bangladesh, and Sri Lanka. More from Sourcing Journal Teamsters President: 'UPS Will Be in for a Hell of a Fight' After Layoffs UPS Slashes 20,000 Jobs as it Weans Off Amazon Cone Denim Outlines Sustainability Gains in New Report In the report, CEO Andrew Lo described 2024 as a year of gradual recovery amidst geopolitical and macroeconomic challenges. Despite this, the company's efforts to reduce its environmental impact progressed. In 2024, Crystal's net zero target was validated by the Science Based Targets initiative. The company's long-term target is to reduce absolute Scope 1, 2, and 3 greenhouse gas emissions by 90 percent by 2050, based on a 2022 baseline. As Crystal's production scale gradually increases, the denim factory in Vietnam has expanded its existing wastewater treatment plant by adding a new treatment unit. Currently, the factory is using up to 60 percent recycled water in its production processes. Using sustainable inputs continues to be a priority. In 2024, 40 percent of Crystal's sportswear fabrics incorporated recycled polyester, while around 85 percent of its denim was BCI cotton. In Vietnam, 55 percent of the raw materials were certified with GRS or Recycled Claim Standard certification. In 2024, 80 percent of Crystal's chemicals conformed to the highest level 3 of the ZDHC MRSL. The report also gives insight into Crystal's investments in new technologies. Crystal's Digital Product Creation Center, which was established in 2022, is meeting the increasing demand for 3D virtual sampling. The number of physical samples shipped by Crystal's denim division to customers in 2024 decreased by more than 50 percent compared to 2018. The company is scaling smart manufacturing for denim to prepare for increased capacity, which is aimed at nearly doubling by 2029 compared to 2023. Crystal's denim factory in Vietnam is currently being transitioned to smart manufacturing. The overhaul includes a smart warehouse management system, a smart AGV system, a smart cutting system and smart production lines. Additionally, RFID technology is being utilized to identify and track the movement of semi-finished and finished products along the production process. Crystal said this advancement helps streamline inventory management, reduces the risk of loss or misplacement and enhances quality control by identifying issues swiftly. The overhaul is expected to be completed in mid-2026. Crystal said the denim team will continue to explore the application of artificial intelligence in the production processes, ensuring that we remain at the forefront of innovation in the industry. The newly extended drying hanger system at Crystal's denim factory in Cambodia enhanced the capacity of the pre-drying process, reducing the dryer's operation time by 20 minutes on average. Stretching 5,640 feet, it is the longest drying hanger track among Crystal's denim factories. The report states that it saved approximately 22 percent of steam and 3 percent of electricity consumption, resulting in an annual reduction of around 350 tonnes of carbon emissions. Crystal is planning to expand its FLAP model (short Finishing Center, Logistics Center, Assembly Center and Parts Manufacturing Center), which serves as a blueprint for automating its knits division. The model is being piloted at one of Crystal's lifestyle apparel factories in China. Colleagues from sister factories participating in months-long, in-depth training sessions at the factory to equip them with the knowledge and experience needed to implement FLAP at their factories. In general, Crystal is expediting its factories' transition to automation. Over 300 automated machines and robots in Crystal's knits factories in Vietnam, Cambodia, and Bangladesh since 2023. The technologies have reduced the amount of time it takes to produce a basic T-shirt by 34 percent compared to 2020. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
