AI’s Lack of Empathy in Financial Advice, State-Owned Banks Face Thinner Margins

MIT researchers discuss how AI's sociopathic nature affects financial advice. China's state-owned banks struggle with thinner margins amid Beijing's call to support the economy. Plus, Americans' financial regrets and the impact of inflation. Also, the City of Yakima hires a new finance and budget director.

Sources:
https://www.hindustantimes.com/business/ai-is-too-sociopathic-to-give-financial-advice-mit-researchers-say-101725158702459.html
https://www.scmp.com/business/banking-finance/article/3276672/chinas-state-owned-banks-face-thinner-margins-amid-beijings-call-support-economy
https://thenationaldesk.com/news/americas-news-now/americans-have-financial-regrets-and-inflation-is-hurting-their-ability-to-make-progress-bankrate-survey-personal-finances-economy
https://www.yakimaherald.com/news/local/government/city-of-yakima-hires-viren-mayani-as-new-finance-and-budget-director/article_40ac93c6-671f-11ef-847b-e3cc06b225ef.html

Outline:
(00:00:00) Introduction
(00:00:43) AI is too 'sociopathic' to give financial advice, MIT researchers say
(00:03:16) State-owned banks face thinner margins amid Beijing’s call to support economy
(00:05:53) Americans have financial regrets, and inflation is hurting their ability to make progress
(00:08:21) City of Yakima hires Viren Mayani as new finance and budget director