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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America's dwindling executions

The Trump administration wants to reboot federal executions, pointing to a 16-year lapse, but Pew Research reports the government has only executed three people since 1963.

The big picture: Nearly all executions in the U.S. are done by states. Even those have been steadily dropping for two decades, per the Bureau of Justice Statistics (BJS) — marking a downward trend for all executions in the country.

Top NSC official may be moved after "Anonymous" rumor fallout

President Trump at the Daytona 500. (Photo: Chris Graythen/Getty Images)

Top Trump administration officials are in discussions to reassign deputy national security adviser Victoria Coates to the Department of Energy from the National Security Council, per two sources familiar with the planning.

Why it matters: Coates' working relationship with National Security Adviser Robert O'Brien, who elevated her to the deputy role only months ago, has strained amid an effort by some people inside the administration to tag her as "Anonymous" — a charge she has vehemently denied to colleagues.

Jeff Bezos commits $10 billion for climate change research

Bezos at Amazon Smbhav in New Delhi on Jan. 15. Photo: Sajjad Hussain/AFP via Getty Images

Amazon founder Jeff Bezos announced the launch of his "Earth Fund" on Monday via Instagram to fund climate change research and awareness.

What he's saying: Bezos says he's initially committing $10 billion to fund "scientists, activists, and NGOS" that are working on environmental preservation and protection efforts.