MDOTM Ltd's CEO recently joined the Digital Finance Summit 2023, organized by Fintech Belgium, to discuss the implications of Artificial Intelligence on the business performance of financial institutions and how it is able to maximise investment outcomes.
MDOTM, representing one of the most innovative Fintech Companies in the world, shared the stage with Mathias Vergauwen, Technical Architect at Microsoft, Gao Bo, Managing Director at AI Club Asia and Kevin Françoisse, CEO of Skwiz. The conversation, moderated by Rémi Delanghe, ML Lead at In The Pocket, centered around the latest technological advancements, particularly AI, and emphasized how its adoption is rapidly gaining momentum especially in the investment industry, with no signs of slowing down.
It all comes down to understanding the value add brought by integrating Artificial Intelligence in the investment process in terms of fewer errors and more efficient use of resources. Companies that harness AI boast increased revenues, a higher level of assets under management, and experience fewer errors and more efficient use of resources.
The AI Benefits For Institutional Investors, Banks, Advisors, and Family Offices
Many investment managers are turning to innovation in order to remain competitive, creating a new range of investment solutions. Forrester forecasts AI Software will grow 50% faster than the overall software market, with evidence showing that the financial institutions leading digital transformation recorded productivity gains and higher quality human capital. On the one hand, this is a significant step that points out the maturity and adoption of this technology and, on the other, confirms its normalization alongside wealth and asset managers.
The AI Market Will Be Worth $64B in 2025
At MDOTM, we firmly believe in the value AI is bringing to the world of investments, that is why we build a technology called Sphere, which leverages AI to provide investors with unparalleled insights and unbiased investment solutions. Tommaso, during his speech, emphasized how Sphere is delivering great value to investors - it is trusted by hundreds of investment professionals around the world - and how it is exciting to see everyone grasping the magnitude of its potential.
Technological innovation has brought various benefits along the entire value chain, which today translate into greater efficiency and attractiveness of investment solutions regarding costs, operational efficiency, and the ability to meet the growing demand for custom solutions.
For sure, Artificial Intelligence is an opportunity for Asset and Wealth managers to renew products and processes and, in the meantime, acquire new market shares. It shouldn't come as a surprise to see more and more managers seeking to integrate Artificial Intelligence into the investment process.
The pages of a new chapter unfold, and those who turn to this new chapter see their productivity, revenues and customers grow, and the steps that financial institutions are taking already portend what the future of wealth management will be like: adaptive, technological, and tailor-made.
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