Plus, Working Moms Leaving Their Jobs Is A Canary In The Coal Mine For The Economy |
Earlier this summer, an AI fund manager—in an experiment designed by Stanford University—made three decades’ worth of stock picks and managed to outperform a whopping 93% of fund managers. It was a “stunning” result, said one of the researchers, using one of the only words I could think of when I saw the study.
I have so many questions about the role of AI in investing, which is why I was so pleased for the recent opportunity to interview Sruthi Lanka, the chief financial officer of fintech platform Public.com. Lanka calls herself an “accidental CFO”—she was trained as an engineer—but in her role at Public, she’s taking that engineer’s mindset to determine the internal efficiencies AI can produce for her teams as well as the way large language models can refine and improve individual investors’ research and decision-making processes.
“When it works well, you don’t know what the technology is in the background, but you just have the insights when you need it,” Lanka said of the investing insights AI tools are producing for Public’s customers. And when it comes to those internal efficiencies she’s identified? AI tools can “unlock hidden headcount,” she says, noting that she’s seen teams at Public “punch above their weight” because large language model-based tools are helping people automate manual processes.
Lanka and I talked about how much she collaborates with other CFOs in corporate America (“My biggest fear is: are we missing out? Is there a tool that I haven’t thought about?”) and why all companies should have a comprehensive AI policy to guide their decision-making around technology that is developing at a lightning-fast pace. Check out our full conversation here!
Cheers!
Maggie |
|
|
ICYMI: Stories From The Week |
|
In spite of c-suite executives like Sruthi Lanka who are embracing AI tools to advance their companies’ bottom lines, researchers from Hong Kong Polytechnic University and Peking University have found that AI usage can exacerbate gender biases in the workplace. Specifically, these researchers found that when women and men both use AI to produce identical work products, the women are viewed as less competent than the men.
Federal Reserve Governor Lisa Cook sued President Donald Trump in federal court on Thursday, court records show, launching what’s expected to be a significant court battle to determine to what extent the president can exert control over the nation’s central bank. This comes after Trump said Monday night he was firing Cook, citing alleged issues with her mortgage agreements. Cook has protested her firing and refused to leave the Federal Reserve, however, arguing Trump does not have the legal authority to fire her.
Working mothers are leaving their jobs at the fastest pace we’ve seen since the pandemic began in 2020. Economist Misty Heggeness joined ForbesWomen editor Maggie McGrath for a Forbes Newsroom segment on this labor market trend, and she explained why the nearly three-percent decline in mothers’ labor force participation could be a canary in the coal mine for the broader economy.
Earlier this summer, actor Kristen Bell received the first two Emmy Award nominations of her illustrious career (Ed. note: recognition that is LONG overdue for the person who portrayed Veronica Mars and Eleanor Shellstrop), for her work on Netflix comedy series Nobody Wants This. Bell sat down with Forbes contributor Jeff Conway to talk about her work on the show—which includes acting and executive producing—and why she has a policy of only working in Los Angeles. |
|
| Presented by Forbes Vetted | | The Best Labor Day Sales So Far |  | | Labor Day weekend is just days away but most retailers have already kicked off their holiday sales. Our deals editors scoured the internet to find the best Labor Day sales you can shop right now, including up to 40% off thousands of products at Amazon, up to 30% off outdoor gear at REI and more. | |
|
 | 2. Manage ambient stress. Ambient stress is the low-level, chronic tension running in the background of your mind—and if it runs unattended for too long, it can affect your health. Here’s how to reduce its impact. |
|
| | Less than two months after her confirmation in July, the White House fired CDC Director Susan Monarez on Wednesday. The move prompted resignations by at least three top CDC officials, following earlier firings of hundreds of employees and a shooting at the Atlanta headquarters of the key public health agency. What reportedly drove Monarez’ firing? | | A. | Allegations that she committed mortgage fraud | | B. | Disagreement with RFK Jr. over vaccine policy | | C. | Her refusal to share vaccination information with ICE | | D. | Lack of alignment on funding for mRNA research |
| | Check if you got it right here. |
|
|
