In addition to its impact on the regtech sector, artificial intelligence (AI) is also making significant strides in the asset management industry. The global artificial intelligence in asset management market is projected to grow by USD 10.37 billion from 2023 to 2027, with a compound annual growth rate (CAGR) of 37.88%. The rapid adoption of AI in asset management and the increasing importance of asset tracking are key factors driving this market growth [cbe23873].
Major players in the artificial intelligence in asset management market include Amazon.com Inc., AXOVISION GmbH, BlackRock Inc., Deloitte Touche Tohmatsu Ltd., Genpact Ltd., Infosys Ltd., International Business Machines Corp., Lexalytics Inc., Microsoft Corp., New Narrative Ltd., Salesforce Inc., and The Charles Schwab Corp. These companies are at the forefront of leveraging AI to enhance asset management processes and provide innovative solutions for asset tracking [cbe23873].
The rise of AI in asset management is fueled by the need for more efficient and accurate asset tracking. AI technologies, such as machine learning and natural language processing, enable asset managers to analyze large volumes of data and gain valuable insights for making informed investment decisions. The use of AI also helps in automating repetitive tasks, reducing costs, and improving operational efficiency [cbe23873].
The growing adoption of AI in asset management is expected to have a significant impact on the industry. It is predicted that AI will transform various aspects of asset management, including portfolio optimization, risk management, and client servicing. AI-powered algorithms can analyze market trends, identify investment opportunities, and optimize portfolio performance. Additionally, AI can help in detecting potential risks and frauds, enhancing compliance, and providing personalized client experiences [cbe23873].
The artificial intelligence in asset management market is a rapidly evolving sector with immense growth potential. As AI technologies continue to advance and become more sophisticated, asset managers are increasingly embracing these innovations to stay competitive in the market. The integration of AI in asset management is expected to revolutionize the industry and reshape the way investments are managed and tracked [cbe23873].