The AI in Business Podcast How AI is Transforming Asset & Wealth Management From Data to Decisions - with Paul Ronan of FE fundinfo
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Apr 2, 2025 Join Paul Ronan, Chief Technology Officer at FE fundinfo, as he dives into the transformative role of AI in asset and wealth management. With over 30 years in the financial data industry, he discusses the contrasting perspectives on AI adoption—balancing excitement with caution regarding data quality and regulatory issues. Paul emphasizes the need for robust data foundations and strategies for effective AI integration. Discover how firms can enhance efficiency, personalize client experiences, and navigate the evolving landscape of investment management.
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Unique Challenge for Asset Managers
- Asset managers face a unique challenge due to widespread inquiries about their AI strategies.
- This stems from AI's perceived potential as an extinction-level event, efficiency booster, or transformative opportunity.
AI Complexity and Rapid Evolution
- Many clients find AI more complex than portrayed in the media, leading to concerns about hallucinations and client representation.
- The rapid evolution of AI technology creates a challenge, as investments in understanding can quickly become outdated.
Varying AI Ambitions
- Ambitious asset managers view AI as a tool for digital transformation, particularly in asset tokenization and personalized client services.
- Others focus on operational efficiency through automation and orchestration, driven by cost challenges in wealth management.