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Komfie Manalo, Opalesque Asia: A large majority of hedge funds and private equity firms appear to be too slow in shifting to digital technologies, like artificial intelligence and machine-learning tools which are beginning to reshape the alternative investment industry.
A joint study by KPMG International and CREATE-Research involving 125 hedge funds and private equity firms across the globe has found that while 98 percent of respondents say 'business as usual' is not an option, at least three out of five respondents said they are still at the nascent stage of 'awareness raising' with respect to revolutionary technologies that could potentially transform their businesses.
Anthony Cowell, head of Asset Management, KPMG in the Cayman Islands and co-author of the study commented, "What the internet did to the music business, digitization will do the alternatives industry -- it's not a question of if, but when. The big players are well ahead, but the rest face an Everest of a task."
Surprisingly, only three percent or fewer of hedge funds and private equities said they have implemented advanced technologies such a...................... To view our full article Click here
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