Anthropic's Role in AI for Financial Services and Trustworthiness

Anthropic prioritizes enterprise customers, focusing on trustworthiness and security in financial services.

### Anthropic's Strategic Positioning in Fintech and AI
* 🤝 Anthropic's focus on enterprise customers, particularly in financial services, has established it as a **trusted partner for banks and fintech companies**.
* 🏦 Financial services have become a cornerstone of Anthropic's business, with clients like Jane St, Bridgewater, Intuit, Stripe, and Coinbase leveraging AI for tasks such as **fraud detection and financial analysis**.
* 🔒 Trust in Anthropic stems from its commitment to **data privacy and security**, as the company has **never trained on customer data by default** and collaborates closely with partners for **secure integrations**.
* 📊 The UK’s Competition and Markets Authority is currently examining Google's investment in Anthropic, and the company is **cooperating fully to address any regulatory concerns**.
* 💻 Anthropic has introduced innovative technology that allows agents to **interact with users' screens**, enhancing productivity and transforming how tools like Claude are utilized.
* 💰 The company is continuously **optimizing compute costs** to support its transformative research while managing the financial aspects of running a tech-focused enterprise.
* 🌍 As a public benefit corporation, Anthropic prioritizes **social impact alongside its corporate goals**, reflecting its commitment to **ethical practices in AI development**.
* 🗳 Anthropic is actively engaged in election integrity efforts and has been a leader in **combating misinformation**, collaborating with industry peers and civil society to ensure **trustworthy electoral processes**.

You have a background in fintech pre-AI. Now you're in AI, and you're doing a lot of business with banks and financial services companies. That one point of difference with Anthropic maybe is you really focus on the enterprise customer, and you did it early. But give me a sense of the split. You know, how much business you're doing with the banks and other financial services groups. Well, great to see you again. Thanks so much for having me on the program. So, and Robert really has the opportunity to support enterprises really across a wide array of different industries. So, healthcare, legal services, financial services have really all been early enterprise customers for us. And we really believe this is in large part because of our focus on really building for businesses. Financial services has always been a cornerstone pillar for and brought back as we have really built and expanded the cloud models. How are banks or investment firms using your large language models?

So, so much of what we've seen, especially over the course of the past year, is really these companies becoming more sophisticated about how they are integrating a tool like Clyde in particular. We're seeing many of these financial services and fintech companies using Clyde for things like fraud detection, financial analysis, really partnering with their analysts on a wide array of different complex financial tasks. Customer support is also a use case that is really applicable across a wide array of financial services companies as well as administrative support. And so businesses like Jane St, Bridgewater, Intuit, Stripe, and Coinbase are all customers that make use of Clyde. For many of the applications that I just mentioned, Stripe, somewhere I used to work, something, I don't know, something known to you. What I understand from speaking to a lot of those that are either working in banking or investment or asset management is you have this sort of data

security component and then the regulatory component. Why is it that they trust you with both of those pieces? So Anthropic has always had a very strong stance on trustworthiness, reliability, privacy, and security of the systems that we are developing. And something we feel very strongly about is that privacy of data is an incredibly critical component of companies feeling comfortable using generative AI. So we have never trained on customer data by default, and we have always worked to integrate closely with our partners at IWC and GCP on the security side as well. In terms of regulation, there has been news in the past week, which is the UK's Competition and Markets Authority is looking at Google's partnership or investment in ANTHROPIC. How are you working with the CMA to address that concerns? So we are fully cooperating with the CMA to share all requested information. And fundamentally, anthropic is an independent company. We operate in this new generative AI

space and offer our models not exclusively on our first party via our consumer app on Google, GCP, the Vertex, and also on Amazon bedrock. I would say from a technology perspective, many are obsessed with agents at the moment in your agency to always computer use its difference. And why did you take that approach to basically having an agent that can look at what's on your screen, the actual hardware in front of you and then engage with it? We really feel, first of all, that, you know, this technology is an incredible sort of potential leap forward for what these models will eventually, we think be able to do. And we've been very open that we think this is still in beta, right? We've very much sort of shared that there's still limitations of the technology, but we felt it was really important to release it to our customers today because there's so much potential for computer use to really transform how

people use a tool like cloud, right? You can imagine this much more complex assistant that is able to really partner with you either by taking, you know, more complex actions on your computer or on the web. You can imagine this eventual virtual coworker really expanding what is humanly possible for people to achieve. There is a great gathering here in Vegas of your customers. Some of them will be in the room later today, but also investors, people that are users of Claude and the various products you've shipped. How active are you in running the business of entropic right now? Daniela Raising money yourself, managing the compute cost versus pricing on your enterprise products. So anthropic, you know, like every company that is sort of operating in this space requires a huge amount of compute to be able to really do the transformative research that we do. And so our researchers are constantly working. To help optimize our compute and make sure that we're using the hardware as efficiently as possible.

Cost of a new model. The cost of a new model. Exactly. And we're really finding ways, you know, in this sort of incredible research field to help optimize how we're using these models, coming up with new research innovations that are really driving the pace of the generative AI innovation in general. Can we anticipate raising more money as is the case? I'm sure you can imagine. We are always, you know, looking to have conversations like that, but not actively fundraising right now. Less talked about is Anthropic also has a unique company structure. Are you happy with that structure? Do you envisage it evolving over time? So Anthropic is a public benefit corporation and a little bit different, but pretty close. A public benefit corporation is actually a pretty well-established corporate entity. It's very similar to a C corporation. It is a form of C Corp, but it enables a company like Anthropic to be able to also prioritize its social impact.

mission in addition to all of the normal corporate activities that we engage in. We are about a week away from the election in this country. How is ANTHROPIC preparing for that? But also do you have a sense of how customers, consumer customers or enterprise customers actually use some of the underlying models or tools they build on top of it in the context of the election? Maybe they don't. So Anthropic recently released a blog post really detailing all of the work that we are doing on election integrity. This is a topic where anthropic has really been an industry leader. We have been working on election integrity and anti-misinformation efforts for well over a year and in the course of doing that work we have partnered very, very closely with both other industry actors, but also civil society groups, really experts in this incredibly important area that we aim again to sort of be an industry leader in sort of setting the waterline for.

Anthropic President on Google Partnership, Outlook

Welcome to the Bloomberg Technology YouTube channel. Subscribe for original series and mini-docs on game-changing technologies, profiles on innovators, live conversations with experts, and breaking technology news & analysis from Bloomberg TV.

Bloomberg Technology

AI is focusing on enterprise customers, with a significant portion of business coming from healthcare, legal services, and financial services.

Financial institutions are using AI for fraud detection, financial analysis, customer support, and administrative tasks.

Notable clients include Jane St, Bridgewater, Intuit, Stripe, and Coinbase, all leveraging AI for complex financial operations.

Anthropic's Approach to Trust and Regulation

Anthropic prioritizes trustworthiness, reliability, privacy, and security in its generative AI systems, never training on customer data by default.

The company is cooperating with the UK's Competition and Markets Authority to address concerns about its partnership with Google.

Anthropic's unique approach involves using agents to engage with users' hardware, aiming to transform computer use despite the technology still being in beta.

Anthropic is focused on optimizing compute usage for transformative research in generative AI.

The company is not actively fundraising but is open to future conversations about raising money.

Anthropic's unique structure as a public benefit corporation allows it to prioritize social impact while operating similarly to a C corporation.

Anthropic's Efforts on Election Integrity

Anthropic is preparing for the upcoming election by focusing on election integrity and anti-misinformation efforts.

The company has been an industry leader in this area for over a year, partnering closely with other industry actors and civil society groups.

Anthropic aims to set the standard for responsible practices in election integrity and misinformation.