CLEAN ENERGY • RIA MANAGEMENT • AI
In this week’s newsletter check out an interesting graphic visualizing the growing electricity demand from data centers, driven largely by the amount of computing power required by AI. In our news section learn what high-net-worth prospects want from a financial advisor, a new method to recycle lithium-ion batteries, using AI to scale advisor efficiency and more.
Let’s jump into it.
We send out our newsletter every Friday with the most interesting content we’ve found that week.
source northskycapital.com
“In this video-based article, Michael Kitces and John Bowen, CEO and founder of CEG Worldwide dive into CEG’s extensive data on the “gap” between the services that financial advisors actually offer to their clients and what HNW clients truly want from their advisors. The discussion highlights the often-misinterpreted needs of HNW clients and how advisors can ensure their services are aligned to meet their clients’ expectations most effectively.”
“The power of oranges may soon transcend food and drink. That’s because experts in the U.S. Energy Department’s Oak Ridge National Laboratory are using the fruit’s acid to help make a solution that can recycle crucial and expensive lithium-ion battery parts. If the team from Tennessee can perfect the mix, it could result in lower power pack costs, and ultimately, electric vehicle costs. “We are glad this recycling process developed by our scientists can pave the way for greater recovery of battery critical materials,” Ilias Belharouak, head of the lab’s electrification section, said in an Oak Ridge summary. “
“For a decade, twin smokestacks loomed against the bright blue skies of Menifee, in Southern California’s Inland Empire. But the old gas combustion plant came down, and on the flat industrial site it left behind an army of batteries is now being assembled. When it comes online this summer, developer Calpine’s Nova power bank will store more electricity than all but one battery plant currently operating in the U.S. The billion-dollar project, with 680 megawatts and 2,720 megawatt-hours, will help California shift its nation-leading solar generation into the critical evening and nighttime hours, bolstering the grid against the heat waves that have pushed it to the brink multiple times in recent years.”
“When someone tells you, “This time it’s different!” you usually have to steel yourself against a shady sales pitch. AI is proving to be an exception to that rule. The possibilities for practical AI business applications have already evolved far beyond ChatGPT-style bots and blog drafts. Advisors need to get serious about developing an AI gameplan. But before you make any investments in tech, you need to invest your time to learn about where AI is going and identify integrations that will add real value for your employees and your clients. On today’s show, Vinay Nair and I survey the state of AI in financial services. We also explain why the rise of AI is going to make your team’s person-to-person skills even more critical.”
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