As financial services firms continue to face cost pressures and seek to compete through innovation, artificial intelligence has emerged as a key driver of change. AI has already improved laborious, yet fundamental tasks such as data processing, and many firms say it has had a positive impact on their business.
Indeed, the CFA Institute’s recent research on the Future State of the Investment Industry found that nine in 10 (91%) of those whose firms have implemented AI and big data into their core business operations say it has helped their firm, including 45% of firms who noted that AI is allowing staff to use their time more productively by automating repetitive activities.
