Global Largest Sovereign Fund: Half of Employees Use Claude for Programming, Next Step is to Let AI Autonomously Make Investment Decisions

According to 1M AI News monitoring, nearly half of the employees at Norway’s sovereign wealth fund (Norges Bank Investment Management), which manages $2.1 trillion in assets, are using Anthropic’s Claude large language model to develop AI tools on their own. Stian Kirkeberg, head of machine learning and AI at the fund, introduced at an AI seminar that employees mainly use these tools to assist decision-making, including monitoring ESG and financial risks of 7,000 companies in the fund’s portfolio, simulating contract negotiations, and preparing for company meetings.

Kirkeberg stated that in the future, some AI agents will be allowed to make limited decisions independently under human supervision. “The principle is to let AI analyze for us so we can make better human decisions,” he said. “At a certain stage, we will trust the agents to make some decisions, and we only need to monitor their behavior.” He emphasized that this model has not yet been implemented and that human oversight remains essential.

Nicolai Tangen, the fund’s CEO, previously called companies that do not adopt AI “complete morons.” He said the fund has invested “millions of kronor” in AI, with returns reaching “billions of kronor.” The fund is currently using AI to analyze trading timing to reduce transaction costs. The staff size will remain around 700, but roles will shift from back-office administration to front-end investment.