Reading the bones: Citi, BNY, Morgan Stanley invest in AI, alt data, & private markets
Investment arms at large US banks are taken with emerging technologies such as generative AI, alternative and unstructured data, and private markets as they look to partner with, acquire, and invest in leading startups.
If you wanted an idea of what the future looked like in 3300 BC, you’d go to a shaman. Within Inner Mongolia, radiocarbon analysis of shoulder blades found at dig sites revealed that the Mongolians were among the earliest practitioners of pyromantic scapulimancy—a process through which animal bones were washed, put onto a fire, and observed carefully. The results of the process would be compared to a list of outcomes in a companion manual, and the diviner’s reputations would be determined by
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