The world’s largest asset manager, BlackRock, revealed during its investor day event in New York that it has developed an artificial intelligence research platform called “Asimov”. The model is currently being used in the firm’s fundamental equity business. While speaking to investors, Rob Goldstein, BlackRock’s chief operating officer, described the platform as a “virtual investment analyst.”
What does Asimov AI do?
Asimov AI, as a platform, will analyze research notes, company filings, and emails and direct them back to portfolio managers with the insights it collects. Since it is still in its nascent stage, Goldstein said that the firm plans to implement Asimov more broadly across its operations soon, or latest, by the next investor day event, which would likely be in approximately two years, based on the timing of their previous investor day events.
Goldstein made it clear that the idea behind this AI expansion is to “scale our people,” meaning that the AI platform is meant to support and boost BlackRock’s employees, not replace them. This move also marks a major step in BlackRock’s plan to use artificial intelligence more in its investment decision-making.
AI tools are being increasingly adopted by fund managers for tasks that include data collection and investment decision-making. Coin Headlines had earlier written about many crypto traders flocking to Grok, the native AI built into the X platform to gauge sentiment and early trends, before taking trading calls.
