Based on the latest scientific research, here are five evidence-based tips for individual wealth accumulation: Tip 1: Manage Your Mind and Money Be aware of your cognitive biases, reduce financial dependency, and understand your risk tolerance. Practice tax-efficient strategies and balance work commitments to enhance your financial and life satisfaction. Check out this table exemplifying … Read more
Application 1: Predictive Analytics in Retail AI-driven predictive analytics help retailers forecast inventory needs, consumer demand, and sales trends. Examples: Amazon uses predictive analytics to optimize inventory and recommend products; Walmart leverages AI to forecast sales and manage stocks efficiently. 🧑💻 Recommended: Get Rich with OpenAI — 20 Ways to $100,000+ Using AI as a … Read more
The previous graphic is from McKinsey (source) and shows that traditional players in the financial industry (banks!) are aware of the threat AI poses to their business models. With the convergence of crypto and AI, the disruption is coming quickly. And companies with higher satisfaction through AI make more money! 👇 By the way, Finxter … Read more
What Are Cutting Edge Technologies in Banking? Cutting-edge technologies and applications in banking use to optimize their operations, automate processes, and deliver great personalized services. You can find more applications in our blog here and in the following list: 👇 Top 26 AI Applications in Banking Application 1: Large Language Models for Customer Service. AI … Read more
💡 Disclaimer: I own TSLA and this is not investment advice. Most people, when thinking about Tesla, primarily consider its car models like the Model 3, Model S, and the recently launched Cybertruck. Enthusiasts often discuss its role in promoting safe driving, the potential of its robotaxi fleet network, and the expected profits these innovations … Read more
Income Calculator To calculate your income percentile (US data), enter your current age and gross income (pre tax) and hit “Calculate”: Enter Your Age: Enter Your Income ($): Calculate Percentile For instance, if you’re 40 years old and you’re making $120,000, you’re in the top 10% of earners: How Did You Calculate This? The data … Read more
In this article, I’ve compiled the 16 greatest quotes by Charlie Munger. I’ve consumed hundreds of hours of video material and myriads of quotes. These are the ones that I found most helpful to help Finxters stay on the right side of change. 👇 Life’s Challenges and Opportunities #1 – “Life’s Series of Opportunity Costs” … Read more
Alien technology (=LLMs) promises an insane amount of efficiency and cost-effectiveness but brings a daunting shadow – the displacement of millions of jobs: AI’s ability to automate complex tasks, ranging from programming to design, significantly reduces the need for human labor in “legacy” job domains. This shift is not just limited to manual or routine … Read more
The traditional investment advice, as given by Jessica from DataTrek Research, may suit a cautious, long-term investor. Here’s the traditionalist’s pitch for a sound and safe investment strategy: Prioritize low-risk, diversified investments like ETFs tracking major indices, avoid speculative options and volatile cryptocurrencies, focus on steady long-term growth through dollar-cost averaging, $50 per month for … Read more
The purpose of the graph is to visually represent and compare the historical performance of Bitcoin with other major cryptocurrencies since their inception, particularly focusing on how these cryptocurrencies have performed relative to Bitcoin from the year they entered the top five in market capitalization. By adjusting the starting values of each cryptocurrency to align … Read more
This guide provides an easy-to-understand foundation for beginners and intermediate users to leverage the Yahoo Finance API with Python for financial data analysis. Yahoo Finance API offers a wealth of financial data, from stock prices and market trends to currency exchange rates. This guide will introduce you to using the Yahoo Finance API yahoo_fin with … Read more
This article shows you the most profitable programming languages in the world. I compiled the average income of all programming languages and sorted them in a descending manner in the following table: Job Description Annual Average Income Erlang Developer $138,000 Haskell Developer $126,000 Go Developer $124,000 Scala Developer $119,000 Python Developer $114,000 Solidity Developer $107,000 … Read more