Incorporating AI into our day-to-day

Tim Buckley: A lot of interest in AI here, questions on AI—what effect will that have on the economy? Uh, I’ll tell you it will change how we serve our clients. It will change the advice that we give and what we can do. It already has.

Greg Davis: Yes. So when it comes to AI, there’s a couple of things we do. Part of it is when we think about how we’re making decisions in our group, right? Leveraging the technology to help us look at specific scenarios that we’re in, how we’ve done in the past using data, looking at new data sources, incorporating that in to make more well-informed decisions. The biggest help, I’d say, in our fixed income area has been really around natural language processing.

So you think about earnings transcripts, research reports—being able to condense that to the key critical functions and the ideas that are in there, and being able to summarize that data for our analysts to make much more rapid decisions in real time, relative to having to go through and read a 100-page document. You’re getting a summary of that document with the key terms and being able to contrast that with the earnings transcript, and whether or not those things actually compare, and do they validate what the CEO might have been saying? So it’s being incorporated into our everyday lives in terms of how we manage money here, and it’s exciting to see how it’s going to take off going forward.