1、 WHATS NEXT?A CLOSER LOOK AT ARTIFICIAL INTELLIGENCE IN ASSET MANAGEMENTMAY 2024There are no signs of the AI buzz abating.To cherry pick recent examples,JP Morgan Chase CEO,Jamie Dimon,has compared AIs potential impact on the global economy to that of electricity.BlackRock CEO,Larry Fink,says AI wil
2、l have tremendous productivity benefits,and could even push wages higher in the future as fewer people are needed to produce more.The list goes on of experts,commentators and industry leaders who have lauded the technologys transformational potential.Still,there is a very important distinction to dr
3、aw between what AI can be and what it currently is a dichotomy that has the capacity to cause significant frustration for many a business.In the world of alternative asset management,expectations for AI have ranged from the futuristic to the fundamental from taking over the trading and investment pr
4、ocess entirely to aiding with incremental process improvement.In truth,most firms are still working to achieve the latter,while a handful have put AI at the heart of their proposition and are tearing ahead with new applications.This report takes a close look across the spectrum of transformation in
5、alternatives,to understand what the real use cases are,how these differ from one asset class to the next,and how firms can overcome some of the most common pain points that stand in the way of progress.In section one,we explore the current state of play,while section two looks at where firms want to
6、 be and how they can get there.Along the way,we hear from experts on the data management problem,the limitations with current products on the market,and how some firms have had success with proprietary tools.The standout conclusion:its important not to rush into AI implementation for the sake of it