The AI Supercomputer That Changed The Economy - Aladdin

Aladdin a supercomputer, which stands for Asset, Liability and Debt, and Derivative Investment Network, is practically magical for many reasons. As of today, it is the world’s largest asset manager, handling a huge chunk of the world’s financial assets. The technology cuts across every asset class and every industry in the world, making it unarguably the most useful piece of tech in the financial space. It's basically a supercomputer that controls everything and is run by Blackrock, one of the largest financial institutions in the world.

Larry Fink was looking to create something big with Aladdin. He decided to build a machine that would be able to identify both risks and opportunities in the market better than any machine or human. And thus, in 1988, Blackrock was born, which then gave birth to Aladdin in the same year.
While Fink might have been looking to create something mind blowing, even he himself couldn’t have imagined the kind of impact that Aladdin would go on to have.

The technology was designed specifically to be a risk-analysis tool for Blackrock. And in its first 10 years, it was used as such. However, Aladdin continued to get more intelligent and better at analyzing risks and distinguishing between losers and winners. In its 11th year, Fink decided that its usage had to be expanded.

#Blackrock #Aladdin #Investing #finance #AI

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