Half of Norway's Sovereign Wealth Fund Employees Use Claude for Programming; Future Plans to Pilot AI Autonomous Investment Decisions

Norway's sovereign wealth fund, which manages $2.1 trillion in assets, has half of its employees using Anthropic's Claude large language model to write AI tools. These tools are mainly used to assist decision-making, including monitoring ESG and financial risks of 7000 invested companies, simulating contract negotiations, and preparing company meetings.

The fund's machine learning head stated that in the future, AI agents will be allowed to make limited autonomous decisions under human supervision, but human oversight remains the mainstay for now. CEO Nicolai Tangen said companies not using AI are 'complete morons', the fund's multi-million kroner investment in AI has brought billions in returns, AI also helps reduce transaction costs, and employee roles will shift from back-office administration to front-end investment.