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31 August 2018

Artificial Intelligence Meets Asset and Wealth Management

I am looking forward to being a moderator at SS&C Deliver in Las Vegas on September 13. The panel is titled Artificial Intelligence Meets Asset and Wealth Management. There are currently over 200 people registered, which does not surprise me because AI/ML is currently in a strong hype phase, although much of this hype is deserved. I will have future-oriented participants from TD Ameritrade, Fortress Investment Group, and DST Technologies (SS&C) on the panel with me.

Artificial intelligence, machine learning, natural language processing, and robotic process automation (RPA) are transforming the investment management world. It's going to be exciting because this is a hot topic and one where there are actual deployments being done and technology investments underway.

At Celent, we have been talking a lot recently about the transformation of wealth and asset management and the deployment of technologies to drive automation and efficiency, such as robotic process automation (RPA), artificial intelligence (AI), and machine learning. I regularly speak to a number of institutions (asset managers, wealth managers, investment managers, etc.) on their use of AI/ML/RPA across their organizations. This is an area where opportunities and challenges abound.

Many of these investment management firms are using RPA to drive efficiency through automation in the back and middle office, with the use cases and investigations around AI/ML active and growing. I will bring some examples with me to the panel discussion on use cases and deployments of AI/ML/RPA across the sector.

At a high level, many describe AI/ML/RPA as the evolution of intelligent automation, going well beyond RPA and adding machine learning, with automation delivering more value as it adapts. It will be interesting to see how DST, TD Ameritrade, and Fortress Investment Group are testing and deploying these technologies across their organizations and clients, where they see the biggest opportunities and challenges, and how they and others in the audience are looking at regulatory and compliance issues as well.