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    The AI in Business Podcast

    Leveled Approaches to AI for Asset Management Challenges - with Aman Thind of State Street

    Tue May 14 2024
    AIasset managementdata managementefficiencypredictive analyticsgenerative AIinnovation

    Description

    This episode explores the practical applications of AI in asset management, the need for asset management companies to become tech companies, the efficiency and predictive analytics enabled by AI, the potential of generative AI, and advice for driving innovation with AI.

    Insights

    Asset management companies are transforming into data management companies.

    Data is recognized as the key indicator of future success in asset management.

    Companies that embrace technology have replaced those that haven't.

    Survival and success in any industry require harnessing technology capabilities.

    AI can drive efficiency by automating processes and reducing manual steps.

    Predictive analytics based on AI can lead to better decision-making.

    Generative AI provides new insights and correlations previously unconsidered.

    It revolutionizes tasks like document extraction and has potential across industries.

    Companies should investigate and embrace AI technologies to drive innovation.

    Start with low-risk use cases and consider ethics and responsible AI concerns.

    Chapters

    1. Practical Applications of AI in Asset Management
    2. Becoming a Tech Company in Asset Management
    3. Efficiency and Predictive Analytics in AI
    4. Generative AI and its Potential
    5. Driving Innovation with AI
    Summary
    Transcript

    Practical Applications of AI in Asset Management

    00:15 - 02:59

    • Asset management companies are turning into data management companies, realizing that data is the true indicator of future success.
    • The challenge lies in harnessing the power of data and generating value from it.
    • State Street Alpha is an offering that addresses some of these challenges.

    Becoming a Tech Company in Asset Management

    04:17 - 05:54

    • Asset management companies need to see themselves as tech companies in order to survive and thrive.
    • Companies that have embraced technology have replaced those that haven't.
    • Harnessing technology capabilities is crucial for success in any industry.

    Efficiency and Predictive Analytics in AI

    05:54 - 07:47

    • AI can drive efficiency by automating processes and reducing manual steps.
    • Predictive analytics can help make better decisions based on data insights.

    Generative AI and its Potential

    11:01 - 14:48

    • Generative AI can provide new insights and correlations that were not previously considered.
    • It can improve efficiency and accuracy in tasks like document extraction.
    • Generative AI has the potential to revolutionize businesses across industries.

    Driving Innovation with AI

    15:38 - 17:52

    • Companies should investigate and embrace AI technologies to drive innovation.
    • Start with low-risk use cases and gradually climb the ladder.
    • Ethics and responsible AI concerns should be considered.
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