06.07.23

Fidelity’s Vast Trove of Data Coveted by Tech Firms in Age of AI

by: Saritha Rai

Tech startups and conglomerates are courting Fidelity Investments for its vault of financial services data, Chief Information Officer Mihir Shah said in an interview. For companies seeking to build artificial intelligence (AI) systems for the finance industry, Fidelity’s decades worth of online transaction records, customer call transcripts and face-to-face client interaction reports would be a treasure trove. It holds about 8 petabytes of data, equivalent to trillions of pages of printed text. Fidelity hasn’t engaged with any of the suitors, said Shah, adding that the firm has considered building its own AI model.
Read the full article on Bloomberg