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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.
Britain's housing crisis is so bad that the government has come up with a novel way to fix it: It's putting $1 billion toward new construction, reports the Telegraph. The money will come from...more
The UK's housing crisis is so bad that the government has come up with a novel way to fix it: It's putting $1 billion toward building 100,000 new homes over the next five years, reports the...more
The world's longest-serving member of the House of Representatives is stepping down from his post at the end of the year, the AP reports. Rep. Manny Pacquiao has announced that he will not...more
A new report from accounting and consulting firm BDO USA finds that US nonprofits are stronger and more effective than they were just a few years ago. The report, which surveyed 250 nonprofit...more
When it comes to assessing the risks of climate change, Standard & Poor's has a new metric to look atand it's a pretty good one. The company's Global Climate Center of Excellence on Tuesday...more
Starbucks is investing in two " innovation farms" in Central America in an effort to protect its coffee supply from the effects of climate change, CNBC reports. The farms in Costa Rica and...more
Foundation: Gates Foundation, Global Fund for Women
Bill and Melinda Gates are putting their money where their mouth is to help people in Sudan. The two are among nine donors who have pledged $4.5 million to help local aid groups in the country,...more
A new report from the European Central Bank is out, and it calls for price controls on prescription drugs to cut down on drug costs and spur innovation, the Wall Street Journal reports. The...more
Good news for Italy: Its consumer confidence index rose to 98.3 in September from an eight-month low of 96.1 in August, reports the Wall Street Journal. The sub-index of personal confidence rose...more
When Amit Bhatia quit his corporate job in 2007 to work on social and environmental issues, he created Aspire Impact and Aspire Circle. Now he's created Impact Ratings, and he wants to make it...more
Social Entrepreneurship
Spotlight
Rwanda as Social Entrepreneur Fund Beneficiary
The Republic of Rwanda has been picked as one of the six African countries as beneficiaries for a new fellowship fund program designed at supporting social entrepreneurs in tackling issues on food security.
