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The future of AI on Wall Street depends on its ability to generate revenue

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Watching the AI ​​Pulse on Wall Street


A comparison of two Wall Street professionals: one sits confidently with his hands folded and his feet on the table, the other deep in thought. The background shows the pattern of an AI circuit board

GettyImages; Alyssa Powell/BI



“How do you use generative AI?”

This question has dominated the business world for almost two years now. When ChatGPT graced us with its presence, everyone wanted to know how to use technology to stand out.

Wall Street, with its reams of data and need to analyze complex topics, has always been seen as fertile ground for the AI ​​revolution. That’s why Business Insider’s finance team spoke with nearly three dozen finance professionals from across the industry about how they use artificial intelligence.

From helping identify startups worth investing in to collecting thousands of analyst notes and reducing the time spent on mundane tasks, AI use cases on the street run the gamut.

In general, generative AI typically helps financial professionals do their jobs faster, easier, or both.

Not everyone is convinced. Some do not see the “disruptive” possibilities of technology that so many have predicted, and they have difficulty seeing specific applications of AI in their own processes.

And honestly, they may not be wrong. As much as Wall Street likes to tout tech adoption, some corners have remained the same for decades, albeit with a few extra bells and whistles.


Wall Street professional analyzing data on multiple screens with AI circuit board pattern in the background

GettyImages; Alyssa Powell/BI



Like the workers it aims to serve, the future of AI on Wall Street will depend on its ability to generate results.

AI development isn’t cheap. Whether you’re starting from scratch or buying something off the shelf, there are a lot of costs to consider, from talent to equipment to staff training.

Blackstone expects the United States to issue about 1 trillion dollars Over the next five years, we will build and operate new data centers that will help power the next-generation wave of AI.

That kind of cash means investors will want to see real changes in how AI works, a question Big Tech leaders are already asking.

Alphabet executives were asked Tuesday whether Google’s AI review feature was generating more revenue for the company, writes BI’s Katherine Tangalakis-Lippert. And Nvidia has plans to show how its customers making money with your AI chips when it publishes its financial results next month.

They won’t be alone, as Goldman expects the market to watch closely to see if AI spending can translate to income.

And that’s in technology, where companies should be making big decisions about innovative projects! Now think Wall Street, where ROI is built into the core of the industry.

Will these companies continue to pour money into technologies that can’t improve their bottom line? Ultimately, finance professionals’ views on using generative AI, whatever they may be, may not matter.

3 things in the markets


Donald Trump in front of a white line pointing up

James Devaney/Getty Images; B.I



  1. How markets are pricing a Trump victory. As prediction markets favor former President Donald Trump to win in November, markets are reacting accordingly. Here’s how deficits, inflation and yields would affect Trump’s election potential return to the White House.
  2. Why the (market) party can go on. Bank of America pointed to tight junk bond spreads and $6 trillion in cash as growth indicators the market rally will continueEven smaller-cap stocks enjoying a rally are a sign of “a broadening rally,” said BofA technical analyst Stephen Suttmeier.
  3. Small-cap stocks to buy for big gains on rallying days. Historically cheap small-cap stocks are coming back to life in a risky earnings season. But not all are safe, a small-cap strategist at Bank of America warned. Here are 9 stocks in sectors that should outperform.

3 things in technology


The technician closes the laptop and walks away with the briefcase.

GettyImages; Alyssa Powell/BI



  1. The founders’ dreams await. This year, with some 3,200 venture-backed startups failing, some early-stage founders are testing life as corporate employees to take a break. Despite the better quality of life in corporate jobs, most want to become founders again someday.
  2. “This is our golf course.” The Hamptons getaway for female founders includes free-flowing rosé, a free case of Larroudé sandals and a lineup of speakers including Sex and the City author Candace Bushnell. a rare sanctuary where women in business connect no men in the room.
  3. Mark Zuckerberg’s Summer of Madness. Zuck’s hot summer is in full swingboth personally and professionally for the Meta founder. He gained much acclaim for releasing the AI ​​Meta model, Llama 3.1, which he promoted. He also debuted a summer glow with a goggle-shaped tan around his eyes — although he said it was no mention of the Meta Orion AR project.

3 things in business


Illustration of Cupid with a mayoral sash.

Kiersten Essenpreis for BI



  1. Make America date again. Dating apps are so bad that young people are giving up on them entirely. government matchmaking service be the answer to our loneliness epidemic.
  2. The Black group was supposed to level the playing field for black-owned media. Instead, its momentum has diminished. Former employees and people close to the company blame its problems on unfulfilled promises from advertisers, internal disorganization and failure to implement plans. They are left wondering what the future holds.
  3. Do your credit card rewards make you look like a jerk? Businesses love rewards, and so do cardholders. But when everyone at a group dinner is rushing to put their card away first, fight for who will score points can get ugly quickly.

In other news

What’s happening today

  • President Joe Biden meets with Israeli Prime Minister Benjamin Netanyahu.
  • The Bureau of Economic Analysis publishes preliminary GDP data for the second quarter.
  • Hermès, Nissan, Southwest Airlines and other companies announce earnings.

Insider Today Team: Dan DeFrancesco, associate editor and presenter, in New York. Jordan Parker Erb, editor, in New York. Hallam Bullock, senior editor, in London. Annie Smith, associate producer, in London. Amanda Yen, fellow, in New York.