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Laxman Pai, Opalesque Asia: The vast majority (95%) of North American asset managers believe that their technology, data, and digital capabilities will be competitive differentiators by 2025, many remain in the early stages of adopting disruptive technologies, including artificial intelligence (AI) and cloud said a study.
According to a survey of 250 asset management executives in North America, by Accenture, while cloud-native technology could provide asset managers with numerous benefits - helping them scale their businesses rapidly, lower costs, improve the customer experience and gain better access to data - only 8% of those surveyed have completed their cloud journeys.
The report, titled "Inventing the Future of Asset Management", said that asset-management firms are also in the nascent stages of adopting AI - less than one-third (28%) are experimenting with the technology, 38% are deploying it across targeted business groups, and just 17% are in the more advanced stage of scaling AI across their organizations.
Properly harnessing and applying AI will be critical for product development, alpha generation, and delivering a differentiated customer experience, according to the report.
The report notes that asset managers' product strategies are evolving faster than their ability to operationally adapt, putting pressure on firms to implement more flexible and scalable operations and technology. For instance, more than four in five (85%) asset managers beli...................... To view our full article Click here
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