Latest news with #JackKokko
CNBC
4 days ago
- Business
- CNBC
Former Wall Street analyst building market AI on why stock pickers won't go extinct
Wall Street isn't immune from the plot line that has generative AI resulting in wholesale knowledge worker replacement. A new tool from AlphaSense, called Deep Research, won't provide any comfort. The generative AI agent functions like a team of analysts operating at what AlphaSense calls "superhuman speed," generating research and market insights, and building investment-grade briefings. But Jack Kokko, AlphaSense CEO and a former Morgan Stanley analyst and Wharton School MBA, isn't worried about the job outlook for Wall Street professionals. "It's a popular narrative," Kokko told CNBC of the job replacement fears during an interview on "The Exchange" on Tuesday after AlphaSense ranked No. 8 on the 2025 CNBC Disruptor 50 list. "But I would not be so sure," he said. What Deep Research does is tap into the AlphaSense universe of more than 500 million business and financial documents, which includes filings, press releases, content about public and private companies, and expert insights based on call transcripts. Last year, the company spent nearly $1 billion to buy Tegus and its library of a quarter-million business-focused interviews. "There are a hundred on a single company, and no human can read it all, but Deep Research will read it all and ask questions," Kokko said. It will answer questions too, ones that Wall Street analysts are often paid to field, within minutes. The company, which dates back to 2011 and has had Goldman Sachs Growth Asset Management as an investor since its origin, already offers rapid summaries of equity research and real-time customizable reports. And it already has a tool called Generative Search designed to think like an analyst, ask natural language questions and receive precise insights sourced from AlphaSense's content, which covers 37 languages. Any of of its enterprise intelligence customers in equities research, corporate development and finance, on or off Wall Street, will be able to plug their internal document libraries into Deep Research, which will then be able to take both pro and con positions, and offer internal and external perspectives, in a report generated in record time. "It would have taken a human analyst days or weeks," Kokko said. "I was an analyst," he added. The company says it counts majority of the S&P 100 as clients. That client base grew by about 25% in 2024, to more than 5,000, including Amazon, Nvidia, Microsoft, Pfizer and JPMorgan. For companies making investments that run into the millions or billions of dollars, being able to make these decisions on the back of all of this information is a revelation, Kokko said, citing the experience of a private equity firm that told AlphaSense that Deep Research did the same or even better on a report the AI ran than its in-house analysts could do in weeks. There are plenty of reasons to believe that this is all bad news for knowledge professionals like finance bros. And more CEOs are starting to talk that way, from Shopify's CEO who recently said no job hire requisitions will be approved unless a manager can prove that the job can't be done by AI, to fellow Disruptor Anthropic's CEO Dario Amodei, who recently said AI would wipe out up to half of entry-level office jobs and whose latest Claude model can work 7 hours straight without a break or burnout. Wall Street's long embrace of AI has only accelerated in the wake of OpenAI's arrival in 2022. Last August, JPMorgan Chase rolled out a generative artificial intelligence assistant to employees that can help them with tasks like writing emails and reports, while Morgan Stanley has already released a pair of OpenAI-powered tools for its financial advisors. In January, Goldman Sachs gave its bankers, traders and asset managers access to a generative AI assistant the first stage in the evolution of a program that will eventually take on the traits of a seasoned Goldman employee, Goldman Sachs Chief Information Officer Marco Argenti told CNBC. But Kokko is still of the belief that the latest AI will enhance the jobs of Wall Street analysts rather than threaten them. "What it does is make human analysts and business people so much more productive," he said. "That person will be operating with a higher ROI [return on investment] and companies don't cut high ROI people," he added. What AI job doomsday soothsayers are dismissing too easily today is "the top line expansion that comes from being able to do things in a much more agile way," Kokko said. "It's 10x prior productivity when it is you and the machine," he added.
CNBC
4 days ago
- Business
- CNBC
2025 CNBC Disruptor 50: AlphaSense volts to #8 on the list with launch of deep AI market research
CNBC's Julia Boorstin with Jack Kokko, AlphaSense CEO, join 'The Exchange' to discuss how his company is using generative AI differently from the competition.
Yahoo
4 days ago
- Business
- Yahoo
AlphaSense Ranks in the Top 10 of the 2025 CNBC Disruptor 50 List, Highlighting Value of Trusted Generative AI for Business Workflows
Company also announces launch of Deep Research, an AI agent that outputs fully executed, in-depth research on any market, company, or competitive landscape NEW YORK, June 10, 2025 /PRNewswire/ -- AlphaSense, the AI platform redefining market intelligence for the business and financial world, today announced it was named to the prestigious 2025 CNBC Disruptor 50 list, the second consecutive year AlphaSense achieved this recognition. AlphaSense earned the eighth spot on the annual list, in which CNBC selects 50 fast-growing, innovative private companies disrupting their industries and solving critical business problems. AlphaSense also announced today the launch of Deep Research, a unique AI agent that automates complex research and delivers decision-ready output reports for business professionals in minutes versus days, while maintaining easy deep-dive access to high quality underlying documents through granular citations. AlphaSense supercharges human expertise with cutting-edge AI, turning market intelligence into a competitive advantage for the world's leading companies, including 88% of the S&P 100, all 20 of the world's largest pharmaceutical companies, 80% of the top global banks, and the foremost asset management, private equity, and venture capital firms. This recognition is a reflection of AlphaSense's rapid revenue growth and the broad enterprise adoption of its innovative Generative Search and AI workflow capabilities. "We're extremely proud to again be recognized by CNBC as an industry disruptor," said Jack Kokko, CEO and Founder at AlphaSense. "Our mission is to be the market's preeminent source of business knowledge, empowering our clients with an information edge that helps them win in their markets. This recognition arrives at a pivotal moment in our growth trajectory as record numbers of global enterprises are choosing AlphaSense to eliminate uncertainty from their decision-making. As we deliver new AI agent capabilities, including today's Deep Research release, we see the opportunity to further accelerate the value we deliver to our customers." Customers trust AlphaSense for its intuitive enterprise-grade AI tech stack, built on top of a comprehensive library of 500 million verified documents such as earnings transcripts, proprietary expert interviews, equity research, regulatory filings, and clients' own internal content. With the launch of Deep Research, AlphaSense now offers its users comprehensive research and synthesized insights at scale in minutes instead of weeks. Deep Research performs like a team of trained analysts operating at superhuman speed to evaluate trusted financial and business data and organize thorough AI-driven analysis, with easy and granular click-through access to source information. Deep Research leverages leading-edge reasoning models for more iterative research tasks such as screening of M&A targets or competitive landscape analysis. The new feature automates in-depth, multi-step research in order to generate comprehensive, well-cited outputs. Along with Generative Search, a natural language search that provides answers to user questions in seconds, and Generative Grid, an AI feature that allows users to extract and compare insights from lots of sources simultaneously in a table format, Deep Research is advancing how companies automate end-to-end workflows for market intelligence that drives their decision-making. Enterprises also rely on AlphaSense to strategize their go-to-market plans, conduct competitive analysis, and navigate market volatility. Recently, AlphaSense unveiled a Tariff Impact Tracker to help business leaders operate with greater clarity. AlphaSense is poised to further accelerate its momentum through continued investments in new Generative AI functionality, Enterprise Intelligence capabilities, further content integrations, and global market expansion. As industries navigate increasing complexity and information overload, AlphaSense is dedicated to delivering AI-powered solutions that empower professionals to make better decisions, more quickly and confidently. Interested in being at the forefront of AI and joining AlphaSense's growing global team? Visit the careers page for information on open roles. About AlphaSenseAlphaSense is the AI platform redefining market intelligence and workflow orchestration, trusted by thousands of leading organizations to drive faster, more confident decisions in business and finance. The platform combines domain specific AI with a vast content universe of over 500 million premium business documents — including equity research, earnings calls, expert interviews, filings, news, and internal proprietary content. Purpose-built for speed, accuracy, and enterprise-grade security, AlphaSense helps teams extract critical insights, uncover market-moving trends, and automate complex workflows with high quality outputs. With AI solutions like Generative Search, Generative Grid, and Deep Research, AlphaSense delivers the clarity and depth professionals need to navigate complexity and obtain accurate, real-time information quickly. For more information, visit Media ContactPete Daly for AlphaSenseEmail: media@ View original content to download multimedia: SOURCE AlphaSense 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
