Charles Schwab Unveils Charley, AI Assistant for Client Queries

Key Takeaways

• <ul><li>Charles Schwab launched Charley, a generative AI assistant for client queries via voice or text</li><li>NVIDIA stock rose 17% in three months, with free cash flow up 25% year-over-year</li><li>OpenAI published safety guidelines requiring senior leader review and monitoring during frontier AI training</li><li>Robinhood introduced AI agents for automated trading strategies, with over 150,000 agentic accounts opened</li><li>Vanguard found AI tools increase investor trust in human financial advisors</li><li>Macy's expanded its Ask Macy's AI assistant and raised its fiscal 2026 outlook</li><li>FIS is building smarter payment tools for AI agents with spending limits and rewards optimization</li><li>Rep. Jayapal introduced a bill requiring federal charters for all AI companies</li><li>Pfluger's bill would fund AI security research through a national center and grants</li><li>Penn State is offering faculty grants to develop AI-powered teaching tools for 2027-28</li></ul>

Charles Schwab launches AI assistant Charley for clients

Charles Schwab introduced Charley, a generative AI assistant that lets clients ask questions by voice or text. It can handle account queries and simple tasks, with an option to connect to a human representative. The tool is part of Schwab's broader push to use AI for better client service. It aims to manage high volume interactions without adding more staff. The move comes as the company expects higher technology spending.

Macy's expands AI shopping assistant and raises outlook

Macy's is widening use of its Ask Macy's AI shopping assistant across its website and stores. The company also raised its fiscal 2026 outlook after strong second quarter results. The AI tool is part of the Bold New Chapter program to modernize the retailer. It aims to help shoppers find products and support store associates. The goal is to improve efficiency and keep customers from switching to online competitors.

Vanguard says AI tools increase trust in human advisors

A Vanguard survey found that AI financial tools make many investors value human advisors more. About one in three investors has used AI for personal finance help. Those users were about 11 times more likely to say AI increased their trust in advisors than to say it reduced trust. Younger investors use AI more often but still prefer human guidance. The findings come as Robinhood and Charles Schwab expand AI tools for clients.

Robinhood adds weekend trading and AI tools for active traders

Robinhood announced expanded trading hours and new AI-powered automated tools at its HOOD Summit in Houston. Starting next year, customers will trade certain U.S. equities 24/7, including weekends. The company also introduced AI agents that let users build automated trading strategies. These tools are aimed at active traders and compete with bigger firms. Over 150,000 customers have opened agentic trading accounts since the earlier rollout.

OpenAI releases safety guidelines for frontier AI training

OpenAI published safety case guidelines on September 28 for training frontier AI models. The rules cover automated dataset reviews, red-teaming and infrastructure security. Training runs must have monitoring that can pause operations if alerts are not addressed. Senior leaders review safety cases and can veto training runs. The guidelines also require keeping detailed records and defining escalation steps for serious problems.

FIS plans smarter payments for AI agents

FIS executive Mike Magennis says AI agents will soon help consumers choose the best payment method based on rewards and risk. He believes these tools need clear rules and spending limits before they can buy things automatically. FIS is investing in transaction intelligence to make offers appear at the right time without extra steps. Magennis warns that companies must stop making it hard for people to use their rewards.

NVIDIA stock rises 17 percent in three months

NVIDIA stock jumped 17 percent over the last three months due to high demand for its AI infrastructure products. The company reported strong second-quarter growth with revenue and earnings per share beating expectations. Its free cash flow increased by 25 percent year-over-year while the price-to-earnings ratio stays around 30. Investors see the stock as attractive but should be aware that prices have risen significantly recently.

Rochester private schools manage AI risks

Experts John Unser and Michelle Cain from MMB+CO discuss how private schools in Rochester can safely use artificial intelligence. They warn that AI systems might show bias or make decisions that are hard to explain to students and parents. To fix these issues, schools should create clear policies and train teachers on how to spot unfair outcomes. Regular audits and open discussions between staff and students will help ensure fair use of these tools.

Jayapal introduces national charter for AI companies

U.S. Representative Pramila Jayapal introduced a new law requiring every AI company to hold a federal charter to operate in the United States. This system combines strict safety rules with constant federal oversight to protect the public from harm. The charter is modeled after existing regulations to ensure AI development benefits society without causing negative effects.

Penn State offers grants for AI teaching tools

Penn State faculty can now apply for grants from the AI Center of Excellence to improve teaching with artificial intelligence. These funds support projects that include experiential learning, new assessments, or civic learning during the 2027-28 academic year. Eligible teachers can use the money for course buyouts, software subscriptions, and professional development. Both programs are open to full-time faculty who have worked at the university for at least one year.

Pfluger bills AI security research funding

Rep. August Pfluger introduced the Reliable Artificial Intelligence Research Act to fund AI security studies. The bill would create a national AI security research center and offer grants to groups working on AI projects. It aims to build trustworthy AI systems and stop misuse of the technology. Rep. Robin Kelly co-sponsored the bipartisan bill. It now goes to the House Committee on Science, Space, and Technology.

Sources

• What Charles Schwab (SCHW)'s AI Client Assistant Means For Shareholders
• AI Rollout Might Change The Case For Investing In Macy's Stock (M)
• AI financial advice lifts demand for human advisors, says Vanguard
• Robinhood unveils weekend hours, AI agents to allow users to trade nonstop
• OpenAI Publishes Safety Case Guidelines for Frontier AI Training
• FIS Sees Smarter Payments Powering AI Agents
• NVIDIA Soars 17% in Three Months: Should Investors Buy the Stock?
• How private schools can manage AI risks in Rochester area
• Jayapal Introduces Legislative Framework Establishing National Charter System to Rein in AI
• New AI grants to support instructional innovation at Penn State
• Pfluger introduces bill to fund AI security research, protect against manipulation