Much has been written about shrinking “sell-side” research by investment banks. Even more about the troubles of active portfolio management. Blame regulation or passive funds, but the struggle to add value increases when uncertainty rises. At such times, the market whipsaws, with swings driven by a diffusion of views. This could be made much worse or better by the democratisation of AI. Any operator will be able to create plausible comments with credible data. This might be considered by some as an alternative to the diminishing grip on the “official view of the future” that traditional financial intermediaries have today. A subscription to OpenAI and an X account will be all it takes to pour fuel on the fire of uncertainty. The total cost could be as low as $30 a month for the soap box and the content generator.

https://www.ft.com/content/2390e8f3-88ba-40a0-b684-7fb6fada9bde?accessToken=zwAGC3RoDT2Qkc8jkOjziLpAoNO2hH-2-tqb3g.MEYCIQDrO4xsSJkalTN45tDSh8VcBne4WtOfIOAFp8t7bEj1ZQIhAK-SdkcLVK7oIY8kG9gFbROHexLWIJ9LpdDaZI5AgKP_&sharetype=gift&token=07d238d4-a7e9-4ccb-9efe-01bf4e2c4226