NBIM accelerates sovereign wealth management with enterprise-wide AI transformation
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Industry:
Financial services
Company size:
Large
Product:
Enterprise plan
Location:
Europe
20% time saved
weekly per employee on Claude assisted analytical and operational tasks
600+ active Claude users
across all departments within first two months of deployment
The problem
The solution
"Extending Claude Code to business analysts and quantitative researchers was transformative."
Head Of Machine Learning And AI
Norges Bank Investment Management (NBIM) manages Norway's Government Pension Fund Global, with the mandate to transform Norway's oil revenues into long-term financial wealth for future generations. With $1.7 trillion in assets, NBIM is one of the world's largest sovereign funds.
With Claude, NBIM:
- Established AI literacy across 600+ employees through comprehensive training programs
- Created an AI Ambassador network driving adoption and best practices organization-wide
- Enabled business users to prototype solutions without IT bottlenecks
- Integrated AI insights into investment operations and compliance workflows
- Achieved measurable productivity gains in research synthesis and documentation
The challenge
Managing $1.7 trillion across global stock markets, bonds, real estate, and renewable energy infrastructure requires processing massive amounts of information daily. NBIM's teams analyze research reports, market data, regulatory filings, and multilingual news to make investment decisions that have enormous consequences for Norway's collective savings.
Intake, sorting, analyzing and reporting this information was an ideal task for AI, but NBIM's employees range from highly technical portfolio managers and analysts with programming skills to non-technical compliance specialists and operations staff. The organization struggled to find an AI solution that was sophisticated enough for institutional investment analysis, yet simple enough that everyone on every team could use it.
NBIM's challenge was compounded by the complex environmental, social, and governance (ESG) reporting expectations that every public organization must contend with, particularly those in Europe. The firm is required to scrutinize ESG factors across their entire portfolio, conducting nuanced analysis and clear reporting for each of the 9,000 companies they invest in. They needed AI that was advanced enough for serious investment research and ESG analysis, straightforward enough for their whole team to use, and able to adhere to the strict data protection and compliance regulations that every financial institution must meet.
Choosing Claude for investment operations
NBIM's goal was to create an environment where any user could prototype and deploy AI solutions without IT bottlenecks. In search of the right balance, NBIM evaluated multiple LLMs. “Claude consistently performed best on analysis and reasoning tasks, and in maintaining context over long analytical sessions involving multiple documents,” says Stian Kirkeberg, NBIM’s Head of ML and AI.
NBIM built human-in-the-loop evaluations to test model capabilities in finance-specific domains. Claude Sonnet 4.5 with extended thinking scored highest. It excelled in complex instruments requiring deep analysis, had superior risk assessment, and provided strategic recommendations with investment-grade documentation quality. Claude showed particular strength in risk analysis and commodities arbitrage—the nuanced financial decisionmaking that NBIM's portfolio managers handle daily.
Claude’s ability to maintain context during extended multi-context sessions was crucial for NBIM’s investment research needs. Other deciding factors: Claude signals uncertainty rather than hallucinating results, an LLM safety principle that reinforces NBIM's fiduciary responsibilities. Additionally, Claude's multilingual capabilities support NBIM’s operations around the globe.
Anthropic's focus on responsible AI development matched NBIM's values and transparency expectations as a public entity. Anthropic's partnership approach was equally important. The two companies regularly consult on financial services capabilities, test new features, and get feedback on safety and enterprise controls. “Our institutional requirements inform their roadmap,” Kirkeberg says. “Anthropic is the ideal AI partner for us as a financial institution.”
Establishing AI literacy across the organization
NBIM aimed to establish AI literacy across the entire organization, from basic competency for all staff to advanced capabilities for technical teams. CEO Nicolai Tangen set the tone with a clear message around AI adoption: employees must "get on the train or be left at the station."
The deployment moved quickly from a two-week pilot that expanded to 600+ active users within two months. NBIM developed training paths for different roles and launched an AI Ambassador Network, where 50 employees received specialized training and met regularly to share use cases and best practices. Initial skepticism around AI quickly faded as employees gained prompting skills and saw results across departments.
Empowering business users with Claude Code
"Extending Claude Code to business analysts and quantitative researchers was transformative," Kirkeberg says. "Now they can create utilities and workflows within governance controls–without waiting for IT." Teams use Claude Code for analysis tooling and utilities, code review aids, data-quality checks, and documentation accelerators.
Through MCP connections with Snowflake and other internal systems, Claude accesses relevant context to improve data retrieval and analysis while keeping humans central to all decisions. Teams process market research, earnings reports, and regulatory filings more efficiently, with dashboards incorporating AI insights where appropriate.
The outcome
Today, NBIM operates as an AI-enabled investment organization with active usage across all departments. Internal surveys show employees save more than 20% of their time weekly on AI-assisted tasks. Portfolio managers process research faster, compliance teams automate documentation, and operations staff build workflow automations — all with appropriate human oversight.
Looking ahead, NBIM plans to deepen its AI capabilities through advanced training for technical teams, expanded integrations with internal systems, and refined governance frameworks.
Kirkeberg says that NBIM's partnership with Anthropic continues to help the firm navigate rapidly evolving technology: "We didn't want off-the-shelf solutions – we wanted a strategic partnership with a provider who would understand our specific needs as an institutional investor.”
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"Extending Claude Code to business analysts and quantitative researchers was transformative."
Head Of Machine Learning And AI
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