By John DiBiase, Managing Director, Shoreline Consulting
A recent industry survey of asset managers and asset owners across Asia Pacific sought to understand participants’ current and planned use of artificial intelligence (AI).
For the purposes of the survey the definition was kept simple - AI are systems that can perform tasks that typically require human intelligence.
Conducted by Shoreline, the intent of the survey was to answer three key questions:
1. What AI asset managers and owners are using or planning to use?
2. How is it being used?
3. What benefits are being realised
The most interesting insight is the disconnect between the respondents’ view of the impact AI will have on their organisations (and indeed the industry) and the lack of action by most respondents. Although most respondents believe AI will have a significant impact on their business and its competitiveness, many have not yet started on the challenging journey to build the required capability.
The majority believe AI will be transformational – and that transformation will happen relatively quickly as seen with other disruptive technologies in recent history. It is not a matter of ‘if’ but ‘when’ use of these technologies will be essential for asset managers to remain competitive.
Like many technologies, the complexity and difficulty in application is not in the technology itself, but rather the cultural and organisational shifts that must occur to accept and accelerate its application and the realisation of associated benefits.
Shoreline has therefore established an AI practice to assist clients on the journey of exploring and building capability in the application of AI technologies and methods suitable for their circumstances.
For the complete survey results, please visit: www.shorelineawc.com/our-thinking
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