Artificial Intelligence for Asset Management and Investment. Al Naqvi

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SUPPLIERS?

       Newly launched AI platform companies: These firms claim to offer an AI platform. An AI platform, from their perspective, is a general-purpose solution that can be used to develop unlimited AI artifacts.

       Tech giants platforms: Large and established tech firms have launched their own versions of AI platforms.

       RPA firms: Robotic Process Automation is a rule-based software—which some argue is not AI—that has found significant adoption by many firms. It is simpler to understand for managers, and RPA vendors market it as the entry level solution to AI. Some even call it the gateway drug of AI. Some of the RPA players are blending their RPA (non-AI) offering with machine learning solutions to evolve as more integrated solutions.

       Process automation firms: The legacy business process reengineering firms are also repositioning their systems as AI solutions.

       Other packaged or off-the-shelf: Many firms offer packaged, or off-the-shelf, solutions that they claim to be AI solutions. Some of these suppliers have legitimate AI functionality; others have simply erased the B from their BI systems and replaced it with an A.

       Function-specific AI firms: These firms market AI solutions by functional areas such as marketing or human resources. Typically, their software contains some AI functionality. Many of these firms are venture-financed start-ups.

      AI implementation firms are composed of the following:

       Management consulting firms: These are large management or strategy consulting firms.

       Large systems integrators: These firms are found in the echelons of Washington, DC government contracting space.

       Tech firms: Large tech firms such as Google and Amazon.

       AI boutique firms: Many AI-centered boutique firms are launched by AI professors and AI experts.

       Data management firms: Some of the basic data-centric support work is performed by data management firms.

      The strategy consulting firms are experiencing their own Darwin moment and are unsure how to function in the rapidly evolving AI-centered economy. The crisis unleashed by coronavirus has further shattered the AI management consulting industry. For the investment world, however, the pandemic has demonstrated the fragility of markets and made a strong case for the need for AI technology to help predict the emergent dynamics of the complex systems in which we operate in the modern era.

      It was early January, and the world was focused on turmoil in the Middle East. A war was brewing, and geopolitical tensions were rising. Fear was in the air, but as we now know, for all the wrong reasons. ALI, who neither exhibits fears nor inhibits desires, was focused on something totally different. Ignoring all that was occupying our attention, it had picked up a trigger word related to a viral outbreak in China, and it was not ready to let go. Since viral outbreak could be the trigger words for ALI to identify a potentially serious risk, it was holding on to it as a dog holds on to a bone. Suddenly, the pattern-seeking mind of ALI went in hyper-stimulated mode when ALI began discovering words such as “SARS,” “pandemic,” “viral outbreak,” “panic,” and “human-to-human infection.” Like hammers pounding on ALI's consciousness, these word combinations made it go in a panic mode of its own. By the third week of January of 2020, ALI began screaming for attention. It was ignoring the highly publicized impeachment proceedings, the looming threat of violence in the Middle East, the tragic death of a legendary basketball player, the Oscars, and the Superbowl. All of these events attracted tremendous attention and occupied human attention. But it was as if ALI knew that all these attention-grabbing events would take a backseat in consciousness when compared to what was coming. ALI kept insisting to pay attention to what would eventually come to be known as Covid-19.

      As ALI passed on the findings, we knew some type of threat assessment would be needed. Let us examine three pieces of information that were published in articles in major newspapers in January:

      1 Coronavirus disease is transmitting from human to human;

      2 Coronavirus is killing people as people do not have immunity against it; and

      3 Coronavirus has no vaccine.

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