Norway’s sovereign wealth fund, the largest in the world with assets valued at $2.1 trillion, is set to incorporate artificial intelligence (AI) systems into some of its investment decision-making processes. However, these AI systems will operate under strict human supervision, as concerns over potential errors in the system mean the transition will not happen overnight. At Norges Bank Investment Management, around half of the employees are already leveraging large language models to develop AI-driven tools for information gathering and decision support, with a broad spectrum of potential applications. Looking ahead, some AI agents will be allowed to make limited decisions independently—but only under supervision.

The fund’s CEO, Nicolai Tangen, is a strong advocate for AI adoption, noting that the fund has already invested “millions of kroner” in AI technology and reaped returns in the “billions of kroner.” While he expects the total workforce to remain stable, he anticipates significant shifts in job roles and responsibilities. Tangen advises managers to prioritize AI implementation as a means to enhance performance, rather than as a tool for cutting jobs.