Article content

Anthropic PBC is pitching financial advisers on a version of Claude that blends the chatbot with financial analytics and risk management technology run by BlackRock Inc., Vanguard Group Inc. and other firms.

Sign In or Create an Account

or View more offersArticle content

Called Claude for Financial Advisors, the system promises to speed up research, administrative and portfolio-oversight tasks, according to senior executives at Anthropic and BlackRock.

Article contentWe apologize, but this video has failed to load.Try refreshing your browser, or
tap here to see other videos from our team.We apologize, but this video has failed to load.Try refreshing your browser, or
tap here to see other videos from our team.Article content

Story continues below

This advertisement has not loaded yet, but your article continues below.

Article content

It’s one of the most significant steps so far by the AI firm to expand into the financial industry. The feature — which also connects with tools from Charles Schwab Corp. and iCapital, among others — builds on Anthropic’s earlier introduction of AI agents designed to handle financial services tasks, including drafting pitch decks and reviewing statements.

Article contentArticle content

The firm is making its pitch to the finance industry at a time of growth and tumult for all AI firms. Anthropic and OpenAI, which last week introduced its own financial services feature tailored to investment bankers and equity researchers, are both planning initial public offerings that will net billions for early investors.

Article content

At the same time, the rapid growth of artificial intelligence technologies is raising alarm bells for lawmakers and industry leaders worldwide. On Saturday, Anthropic chief executive Dario Amodei said development of the most advanced systems must be slowed in order to prevent catastrophe; OpenAI chief executive Sam Altman and SpaceXAI chief executive Elon Musk endorsed his statement.

Article content

Story continues below

This advertisement has not loaded yet, but your article continues below.

Article content

Anthropic, like OpenAI, has been vying for business customers with specialized services beyond software engineering and coding.

Article contentRead More

  1. Tech leaders try to telegraph AI concerns without spooking investors
  2. OpenAI debuts financial tool tailored to investment bankers
  3. Story continues belowThis advertisement has not loaded yet, but your article continues below.

Article content

Claude for Financial Advisors is part of that initiative, pitching a more efficient process for advisers that allows them to handle more clients.

Article content

“The actual financial adviser community — it’s not that big and it’s actually shrinking,” Jonathan Pelosi, Anthropic’s head of financial services, said in an interview. “These people are retiring, there’s not a ton of them. So great financial guidance is actually not in high supply. If we can do something to help enable these advisers to service more customers, we think of that as an absolute win.”

Article content

Anthropic’s tool can connect more advisers to portfolio analytics and investment research tools from firms including BlackRock and Vanguard and could lead to more business for these companies. Financial advisers increasingly rely on “model portfolios” of exchange-traded funds and other investments; BlackRock, for example, said it currently manages about US$300 billion in these portfolios.