Artificial Intelligence (AI) is having a transformational impact across the asset management value chain. According to Global Market Insights, AI in asset management market size valued at $2.5bn in 2022 and is projected to grow at CAGR of 24% between 2023 and 2032. Asset managers are increasingly using AI in their day-to-day to not only help portfolio managers make decisions on investments, but also to create operational efficiency for their firm at large. AI and machine learning are being sought to augment existing resources and digitize the workflow, to create programmatic processes and automate tasks. In addition, increased adoption of AI/ML is largely driven by firms’ ability to process and analyze vast amounts of datasets nearly in real-time, which in turn improves risk assessments, streamlines operations and reduces costs.
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