Apr 6, 2017

Blackrock's Fink looks to AI to invest "better than humans"

BlackRock Chairman and CEO Larry Fink tells CNBC that his ultimate goal is to build artificial intelligence that can "ultimately invest better than humans." Blackrock has already laid off 40 investment professionals in an effort to lower fees by relying more on technological approaches to investing ike data mining. Purely AI-driven investing, however, "is more of a myth than a reality," at the moment.

Lower fees: Investors are beginning to realize that human stock pickers generally underperform the broader market, and that one can capture higher returns on average, at a lower cost, by investing in index funds or by relying on advice provided by algorithms.

Why it matters: Artificial intelligence is not just threatening investment advisement employment. Other white collar jobs like legal discovery work and financial and sports reporting have already begun to be done by robots, as well, and the list grows longer as the technology becomes more advanced.

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Updated 22 mins ago - Politics & Policy

The aftermath of George Floyd's death: Everything you need to know

A mural outside Cup Foods in Minneapolis, near where George Floyd was killed in an encouner with police. Photo: Steel Brooks/Anadolu Agency via Getty Images

Former Minneapolis police officer Derek Chauvin is in jail under $500,000 bail on charges of third-degree murder and manslaughter after a video of him kneeling on George Floyd's neck for more than eight minutes and Floyd's death catapulted the country's major cities into a state of protest.

The big picture: Floyd's fatal run-in with police is the latest reminder of the disparities between black and white communities in the U.S. and comes as African Americans grapple with higher death rates from the coronavirus and higher unemployment from trying to stem its spread.

Updated 24 mins ago - Science

Live updates: SpaceX attempts to launch NASA astronauts Saturday

SpaceX's Falcon 9 rocket on the launch pad. Photo: NASA/Joel Kowsky

At 3:22 p.m. ET today, SpaceX is expected to launch NASA astronauts Bob Behnken and Doug Hurley to the International Space Station for the first time.

Why it matters: The liftoff — should it go off without a hitch — will be the first time a private company has launched people to orbit. It will also bring crewed launches back to the U.S. for the first time in nine years, since the end of the space shuttle program.

Follow along below for live updates throughout the day...

Updated 1 hour ago - Politics & Policy

In photos: Protesters clash with police nationwide over George Floyd

Police officers grapple with protesters in Atlanta. Photo: Elijah Nouvelage/Getty Images

Police used tear gas, rubber bullets and pepper spray as the protests sparked by the killing of George Floyd spread nationwide on Friday evening.

The big picture: Police responded in force in cities ranging from Atlanta to Des Moines, Houston to Detroit, Milwaukee to Washington, D.C. and Denver to Louisville. In Los Angeles, police declared a stretch of downtown off limits, with Oakland issuing a similar warning.