Fidelity’s Vast Trove of Data Coveted by Tech Firms in Age of AI
- AI system creators want Fidelity’s decades worth of records
- Proprietary data needed for creating specialized AI services
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As tech companies the world over race to create AI services akin to ChatGPT, the underlying raw material required — data — is suddenly in demand like never before.
Fidelity Investments is a case in point: tech startups and conglomerates alike are courting the wealth management giant to lay their hands on its vault of financial services data, Chief Information Officer Mihir Shah said in an interview. For companies seeking to build AI systems for the finance industry, Fidelity’s decades worth of online transaction records, customer call transcripts and face-to-face client interaction reports would be a treasure trove. It holds about 8 petabytes of data — equivalent to trillions of pages of printed text.