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AI is becoming critical economic infrastructure, changing how businesses compete and how governments think about resilience, sovereignty and strategic control. As access to advanced models broadens, advantage may increasingly depend on deployment, data, governance and execution rather than model ownership alone. For investors, value may accrue to the infrastructure and systems through which intelligence is created, trusted and controlled.

Wealth creation and wealth preservation often require different forms of judgement. The conviction, concentration and risk-taking that build a fortune can become less effective once capital must endure across generations. Drawing on behavioural finance, this article examines how loss aversion, overconfidence, mental accounting, social influence and time inconsistency can shape family decisions - and why governance is ultimately a behavioural discipline.

AI may matter less because of what machines can do than because of how humans adapt to them. Drawing on a Gresham College lecture series, this article examines AI as cognitive infrastructure: changing how people learn, analyse, decide and exercise judgement. It explores productive friction, the difference between performance and understanding, and why governance and accountability may become more valuable as AI systems become more capable.

Investment decisions rarely fail for lack of information. More often, the problem lies in how information is interpreted. Drawing on behavioural research, this article examines how early experiences, reference points, familiarity and social influence shape investment judgement - often in ways that appear rational and consistent, but are anchored in past outcomes rather than current conditions.

Preserving wealth across generations requires more than successful investing. As families move from wealth creation to consolidation and distribution, governance, values, spending discipline and investment strategy become increasingly important. This article examines why family fortunes are often lost over time - and the four core disciplines that can improve the prospects of long-term stewardship.

For many, stewardship of hard-earned wealth across generations has been challenging. Everything from reckless spending to ill-thought through investment strategies, to relationship breakdown can dramatically destroy family wealth. There have been examples, through history, of dynastic families who have been amongst the wealthiest in a nation, who have largely lost everything. The Vanderbilt family built the US railroads and amassed a huge fortune, but through excessive consum