(Bloomberg) — Millennium Management is partnering with Anthropic PBC to build a risk analyst powered by artificial intelligence, as well as expand the use of the AI developer’s models across the hedge fund firm. <\/p>\n
Most Read from Bloomberg <\/p>\n
Engineers from the maker of AI model Claude will work alongside Millennium’s technology and risk management team to build the digital risk analyst, according to statements from the two companies on Thursday. The tool will help human risk managers make decisions and extract new risk insights across asset classes, the firms said. <\/p>\n
The partnership will also expand the testing of Anthropic’s latest frontier models against some of Millennium’s most sophisticated work, building on the adoption of Anthropic tools across the business. <\/p>\n
“We believe AI can help set a new bar for what our people can achieve,” Vlad Torgovnik, Millennium’s chief information officer, said in a statement. The tie-up “shows how AI is driving innovation in core parts of our business while keeping human judgment at the center of decision making.” <\/p>\n
The partnership coincides with sweeping changes underway in the asset management industry where newer technologies are raising the stakes for multistrategy hedge funds. Money managers, who have been using machine learning and algorithmic trading for decades, are now rushing to explore how fast-evolving AI can enhance investment and back-office processes. <\/p>\n
Millennium recently set up an AI laboratory to expand the development and applications of such technologies at the firm. The Anthropic collaboration is part of the lab initiative, which focuses on accelerating early access and assessment of AI products, as well as working closely with AI firms on projects and attracting top tech talent. <\/p>\n
Risk management is at the core of the multistrategy hedge fund model, helping money managers produce steady returns and grow into investing giants. Such firms run dozens of trading teams, each with their own targets, risk limits and leverage, aimed at cutting losses fast to retain their edge. <\/p>\n
Millennium, which manages more than $92 billion, was an early adopter of Claude and Claude Code, Anthropic added in its statement, with staff using it to write software, build products and improve workflows, including across many of Millennium’s more than 340 investment teams. <\/p>\n","protected":false},"excerpt":{"rendered":"(Bloomberg) — Millennium Management is partnering with Anthropic PBC to build a risk analyst powered by artificial intelligence,…\n","protected":false},"author":2,"featured_media":73321,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[53,2478,13736,51010,58746],"class_list":["post-132427","post","type-post","status-publish","format-standard","has-post-thumbnail","category-anthropic","tag-anthropic","tag-bloomberg","tag-hedge-fund","tag-millennium-management","tag-risk-analyst"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts\/132427","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/comments?post=132427"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts\/132427\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/media\/73321"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/media?parent=132427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/categories?post=132427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/tags?post=132427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}