Norway’s huge sovereign wealth fund to start using AI in investment decisions
Norway's huge $2.1 trillion sovereign wealth fund, the world's largest, plans to eventually allow artificial intelligence to make some investment decisions, but only under human supervision. Officials confirmed this remains a future step, citing the technology's current error rate.
Around half of the 700 employees at Norges Bank Investment Management (NBIM) already code their own AI tools, primarily using Anthropic's Claude large language model. These systems gather information, assisting staff in decision-making, according to Stian Kirkeberg, the fund's head of machine learning and AI.
Applications range from monitoring 7,000 companies for environmental, social, and governance (ESG) and financial risk, to simulating contract negotiations or preparing for meetings. Mr Kirkeberg stated that, in time, some AI agents will be permitted to make limited autonomous decisions.
“The principle is that we make better human decisions by getting AI to analyse it for us,” he..
