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9min chapter
Bloomberg Businessweek Weekend - March 7th, 2025
Bloomberg Businessweek
Revolutionizing Finance with AI
This chapter explores the transformative potential of the AI tool MAGIC on the financial services sector, developed by a startup from Brevin Howard. It discusses the significant operational cost reductions possible through AI adoption, estimated at around $8 trillion, while highlighting the cautious approach firms take in integrating these technologies. Additionally, it reflects on the evolution of AI over the past four decades and its increasing prevalence as businesses move from experimentation to implementation.
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