Monday, July 31, 2023

Who wants to work in a family office?

Here's today's Big Take.

July 31, 2023

Family office management course at HKU School of Professional and Continuing Education, in Hong Kong. Photographer: Lam Yik/Bloomberg

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A global race — especially in Asia — to attract booming family office businesses is underway. With residency, luxe living and low taxes mere table-stakes, the availability of trained employees to help the ultra-rich run their lives and their money has become a key battleground. Schools are popping up to train staff on everything from the perils of working for politically exposed people, to soft skills covering everything from Swiss watches to fine art.

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A European Union proposal would put new guardrails around the use and development of artificial intelligence, including curbing the use of facial recognition software and increasing ChatGPT's transparency. Bloomberg's Jillian Deutsch joins guest host Rosalind Mathieson to talk about how the EU pulled ahead in the race to regulate AI.

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