The financial world has seen an ever-growing use of technology over the past decade, with artificial intelligence (AI) emerging as one of the most disruptive innovations within investment management. According to International Data Corporation (IDC), banking was the top technology spender among all industries in Asia Pacific in 2022, with AI spending totaling more than USD 2 billion. Despite the hype, AI in investment management is still in a formative stage, with almost half of Asia-Pacific asset management firms surveyed having no AI or big data applications in production. Opportunities abound from AI adoption in investment management, with the top three applications being portfolio management, risk management, and sales and marketing. Central to trust in AI is the need to consider ethical aspects of AI implementation, and CFA Institute provides firms and professionals with a decision framework to guide future developments responsibly.
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