BlackRock introduces AI investment analyst Asimov, joining other firms in leveraging machine learning

From Yahoo Finance: 2025-06-16 06:30:00

BlackRock, the world’s largest asset manager, has unveiled an AI research platform called “Asimov” at its investor day in New York. The platform is a “virtual investment analyst” that can scan text in research notes, filings, and emails to produce “portfolio insights.”

Systematic hedge fund manager Man Group AHL has been using machine learning techniques for over a decade to increase productivity. They are developing chatbots that can understand internal code, scan complex bond documents, and answer investor queries.

Bridgewater Associates CEO Nir Bar Dea stated that a fund utilizing machine learning launched in 2024 performed comparably to human-led counterparts. Researchers at Stanford Graduate School of Business built an AI analyst that outperformed 93% of human fund managers over 30 years by an average of 600%.

Stanford’s AI analyst showed that publicly available information wasn’t fully exploited, outperforming in hindsight but not guaranteed in today’s market. Assistant professor Suzie Noh highlighted that widespread use of the tool would diminish its advantage. The AI era on Wall Street is ushered in by BlackRock’s virtual investment analyst, Asimov.

Read more: BlackRock’s Virtual Investment Analyst ‘Asimov’ Ushers in AI Era on Wall Street