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- 💰 Can AI democratize wealth management?
💰 Can AI democratize wealth management?
Welcome to the odo newsletter—your weekly digest on AI for product builders. We've done a little shake-up, including adding a Job Postings section featuring PM jobs in AI.
Be in the Know 👀
🔜 Slack AI to Summarize Threads: If you've been buried by threads with 100+ responses, AI is coming to the rescue, soon.
✏️ Zoom to Summarize Meeting Notes: Zoom AI can summarize notes during meetings for free. Is this good enough, especially given Zoom's recent fumbles in rolling out AI features?
🚀 Claude Pro to Compete with ChatGPT Plus: Anthropic launches Claude Pro, a subscription service, to compete against ChatGPT Plus. Claude Pro's leading value prop is a longer context window (100,000 tokens!)
💸 Microsoft to Cover Copyright Legal Damages: Microsoft said it would cover legal damages if customers get sued for copyright infringement while using its AI products. If this isn't flex, what is?
🧑🏫 ChatGPT Guide for Teachers: OpenAI released a guide to using ChatGPT for teachers. You can say it's a very wholesome cheat sheet.
News Deep Dive 🤿
🤑 Ant Group releases LLM for insurance and wealth management use cases
Ant Group, a financial services arm of China's Alibaba, has announced that it's trained a financial LLM for wealth management and insurance industries. According to the Ant Group, the financial LLM could power high quality wealth management services, such as market analysis, portfolio diagnosis, asset allocation suggestions, and investor education. The application has been in closed testing for about six months and will be released to customers once it receives regulatory approval.
There's long been a need for high quality, affordable wealth management services, so it's exciting to see how generative AI is being leveraged to meet the need. Traditionally, human advisors were the main enabler for providing high quality, personalized services, and scaling humans has come with a hefty price tag.
When can we expect to see services like this in the U.S.? We don't think that there's much technological barrier to providing such services, given the pace of innovation and technological capabilities in the leading tech and fintech firms. However, regulations and lobbying from interested parties (such as those who profit from a human advisor model) are likely going to be the biggest roadblocks. Just like the writers in Hollywood, these human advisors are likely going to see an AI-powered wealth management service as a threat to their livelihood. Besides, what if AI hallucinates and tells you to put all your money under the mattress? #notinvestmentadvice
Product Resource ☀️
Have you ever said to your team, “Let's just build an MVP to learn quickly"? There's a view that MVP is a selfish process because this framework often results in a product that is too minimal to be actually useful for customers. Instead, consider building a SLC (Simple, Lovable, Complete) product to get your users—even a small base— to love it.
Job Postings 💼
Lead Product Manager, AI Product R&D at the NBA 🏀
Product Manager, AI/ML at Robinhood
Product Manager at Ought (to build an AI research assistant)
Disclaimer: We are not getting paid to highlight these jobs.
Before you go 💨
Remember the time when the AI-generated Drake x The Weeknd's song went viral? Ghostwriter, the artist behind it, released a track with AI-generated Travis Scott x 21 Savage collab. Click here to give it a listen before it's taken down!
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