Axios Live: AI is making finance accessible, investors say

LOS ANGELES — Artificial intelligence is helping nonexperts code, make money and sell products faster, business leaders said at a May 3 Axios Live event.

Why it matters: The technology is making it easier for beginners to earn money while increasing the value of expertise for investors and entrepreneurs.

Axios' Dan Primack moderated the Expert Voices roundtable, which was sponsored by the Center for Audit Quality.

What they're saying: "It has never been easier to launch … and get something into market," Greycroft co-founder and managing partner Dana Settle said.

• "I'm seeing a lot of founders that I probably would not have seen pitching to me… because they now have the ability to code and build products," Stripe startup and venture capital lead Asya Bradley said.
• "This kid can now write… [and] make Salesforce in his bedroom," Playground Global co-founder and general partner Peter Barrett said.

Case in point: In less than six months, TD Bank used AI to launch a Spanish-language mobile app with nearly 500,000 customers.

Yes, but: Experience still matters.

• "There has never been more of a premium on expertise," Tradeweb chief financial officer Sara Furber said.
• People with deep knowledge of investment and an understanding of AI "are making a killing," said Osman Ali, Goldman Sachs Asset Management global co-head of quantitative investment strategies.

• "Being able to write software is necessary, but not sufficient," Barrett added.

Content from the sponsor's remarks:

"Decisions are being made faster than ever," said Amy O'Connor, vice president of public affairs at the Center for Audit Quality.

• "So many times in life, we consume or engage with something, and we really don't know how it got there," she added. One of the most important things is "making sure that we have good information."