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"There are few people as informed about the latest state of AI developments and its level of adoption in financial services, who have also sat shoes in the shoes of investment managers and asset owners," says Andrew Huang, the founder of Alpha Partners.
That's why the Boston-based investment firm has just launched a new service called Impact Alpha Partners, which uses artificial intelligence to help it identify companies that are making a positive impact on the environment, Forbes reports.
"Impact investing is the next evolution of investment practice," Huang says.
"It requires a theory of change that links such as capital and strategy, with intent to achieve outputs such as social and environmental financial returns and measurable, additional impact."
Michael Kollo, an AI specialist at Alpha Partners, says there are many potential uses for AI in this area, but "rigorous testing and system will be needed given our fiduciary responsibility to clients," and the firm "remains cautious about the known issues with AI, including hallucinations and lack of explainability."
Selected Grant News Headlines
A customized collection of grant news from foundations and the federal government from around the Web.
People of color make up about 20% of Spokane County, Wash., but they own about 8% of the county's businesses, reports the Spokesman-Review. That's why the Spokane Workforce Council is...more
The New Brunswick Teachers Association is asking teachers and voters in the Canadian province to take a survey ahead of the next provincial election in September, the CBC reports. "We've seen a...more
The National Institute of Dramatic Arts in Australia is offering a master's degree in "ecoscenography"that is, "ecological design for performance," reports the Guardian. The program is the first...more
At least 31 trees in Ann Arbor, Mich., are being killed or damaged by natural gas leaks, according to a new report commissioned by the city. The report found that gas was damaging roots and the...more
A Tennessee law firm has changed its name in order to better reflect its role in the financial services, real estate, construction, and insurance industries. Puryear Pippenger & Cook, founded in...more
A company in Australia that processes up to 100% of e-waste has just secured $5 million in funding, making it the country's largest e-waste processor and the only one capable of diverting up to 100%...more
A new $100 million fund aims to make a positive difference in the world's food and water supply. The Natural Ventures Fund I, a 10-year closed fund, is the first from a consortium of investors...more
"There are few people as informed about the latest state of AI developments and its level of adoption in financial services, who have also sat shoes in the shoes of investment managers and asset...more
One of the world's most popular electric-vehicle ride-hailing services is getting a big boost from one of India's most famous sons. Mahendra Singh Singh Jaggi, former captain of the Indian...more
Sweden's Trill Impact has made its first venture fund a success with the final close of its $90 million fund. The fund, the first of its kind in Europe, was backed by institutional investors...more
Social Entrepreneurship
Spotlight
Passion for Developing Technology for Social Good Overcomes Legal Disputes
Jim Fruchterman founded the now 24-year-old social enterprise Benetech, a nonprofit tech company that focuses on developing technology for social good. Fruchterman has also launched a new initiative called Bookshare, which is a membership-only crowdsourced  online library for people with disabilities.
