The AI + Wall Street Year Ahead

 Welcome to the final AI Street edition of the year! I hope these Thursday briefings have been valuable to you. The next edition will be out on Thursday, January 2. Wishing you a happy holiday season!

ADOPTION Wall Street’s AI Road Ahead

Image created with Midjourney

Despite all the AI hype, adoption on Wall Street has been slower than expected, as I’ve noted in this newsletter. When I started AI Street over the summer, I thought I was late to the AI conversation—now I realize I was early.

Generative AI, like ChatGPT, is still in its infancy. While traditional AI has been around for years (think spam filters), large language models (LLMs) are barely two years old. Their rapid rise to mainstream attention stems from their accessibility, enabling anyone to interact with AI through simple text inputs.

Finance departments “seem to be waiting for more niche tools to enter the market or more advanced out-of-the-box technologies to emerge with practical applications,” Deloitte wrote in its survey…