– Norway wealth fund CEO says it is using AI to deploy capital

novembre 8, 2023 mainadmin Monde 0

Norway wealth fund CEO Nicolai Tangen presents the results for 2022, at a news conference in Oslo, Norway January 31, 2023. NTB/Heiko Junge via REUTERS/File Photo Acquire Licensing Rights

NEW YORK, Nov 8 (Reuters) – Norway’s $1.4 trillion sovereign wealth fund is using artificial intelligence to help manage its investments, its CEO Nicolai Tangen said in an interview at the Reuters NEXT conference in New York.

« We are using it (AI) now in how we deploy the capital, » Tangen said. « We use it to reduce the trading we do, because we are an index-near fund, and sometimes we have to make adjustments to the portfolio and these type of models can help us trade less. »
To view the live broadcast of the World Stage go to the Reuters NEXT news page: https://www.reuters.com/world/reuters-next/

Reporting by Lananh Nguyen in New York and Gwladys Fouche

Our Standards: The Thomson Reuters Trust Principles.

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Lananh Nguyen is the U.S. finance editor at Reuters in New York, leading coverage of U.S. banks. She joined Reuters in 2022 after reporting on Wall Street at The New York Times. Lananh spent more than a decade at Bloomberg News in New York and London, where she wrote extensively about banking and financial markets, and she previously worked at Dow Jones Newswires/The Wall Street Journal. Lananh holds a B.A. in political science from Tufts University and an M.Sc. in finance and economic policy from the University of London.

Oversees news coverage from Norway for Reuters and loves flying to Svalbard in the Arctic, oil platforms in the North Sea, and guessing who is going to win the Nobel Peace Prize. Born in France and with Reuters since 2010, she has worked for The Guardian, Agence France-Presse and Al Jazeera English, among others, and speaks four languages.

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