According to a report, “AI In Asset Management Market Size, Share & Trends Analysis Report By Technology (Machine Learning, NLP), By Deployment Mode, By Application, By Vertical, And Segment Forecasts, 2020 – 2027”, published by Grand View Research, Inc.,The global AI in asset management market size is expected to reach USD 13.43 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 37.1% from 2020 to 2027. Artificial Intelligence is making headway in multiple sections of human existence and is highly beneficial in all of it. The current landscape of artificial intelligence (AI) applications in asset and investment management includes the management of digital assets and physical assets and investment advisory consumer applications. Increasing security and efficiency of asset management with the use and positive intervention of AI in this field is expected to boost the demands in the sector for the coming years.
Asset management is nothing but a systematic approach of handling either tangible or intangible assets for an organization, government entity or self. Basically, asset management is a systematic process of developing, operating, maintaining, upgrading, and disposing of assets in the most cost-effective manner. Best practices are always being developed to cut the cost, reduce the input, increase security and boost efficiency. Artificial intelligence is the new way to accomplish all this and much more in asset management area.
Artificial intelligence in asset management refers to the automation of IT assets lifecycles with intuitive workflows and making informed decisions about asset vendors and capacity. Asset and wealth management firms are exploring potential artificial intelligence-based solutions to improve their investment decisions and extract insights out of their historical data. Major applications of AI in asset management to boost the operational efficiency includes monitoring, quality checking and expert handling of vast data. Improving data quality is of the utmost importance as it reduces operational risks and helps in client retention. Along with these, continuous monitoring helps alert the asset managers regarding any asset or equipment breakdown. It has many applications in the sector, which makes it all the more special. Some of these applications are:
- Portfolio Optimization
- Conversational Platform
- Risk & Compliance
- Data Analysis
- Process Automation
COVID-19 Effect
The COVID-19 outbreak has created significant uncertainties and challenges for the WAM industry. However, this crisis may accelerate certain activities related to the speed of digital transformation and automation as some markets have shown high acceptance towards digital or virtual approaches related to client interaction and distribution. Moreover, key players are leveraging AI and machine learning technologies to improve resilience and enhance productivity. These activities will help the sector be buoyant despite the vagaries of contagion.
AI In Asset Management Market Report Highlights
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Asset management organizations are using natural language processing (NLP) and other AI techniques to recommend optimal actions for specific processes by analyzing voice and text communications
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NLP associated with machine learning technology helps in incorporating a wide range of sources into press releases, financial reports, retrieving filings, investment models, and social media activity
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Portfolio construction and optimization is an effective application of AI in asset management as it provides predictive forecasting of long-term price movements
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In asset management, social media analytics is an emerging trend, which is primarily used for research analyst opinion, market sentiment, influencer, and demography analyses.
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Some Recent Developments:
- In May 2020, Investment advisory firm MAI Capital Management, acquired Grisanti Capital Management (GCM), a US-based asset manager, for an undisclosed amount. The all-equity transaction builds on MAI’s recent expansion in New York City. It will add an experienced team of investment professionals to MAI’s ranks.
- In May 2020, Boosted.ai raises $8 million in series a funding to bring Artificial Intelligence in investment management to the mainstream. Boosted Insights is a first-to-market AI platform for investment professionals, supporting idea generation, portfolio construction and portfolio monitoring without requiring users to be coders, software engineers or data scientists. The platform also allows investment professionals to find value in alternative datasets that otherwise require extensive quantitative experience to unlock. Boosted.ai will use the funding to continue enhancing Boosted Insights, its proprietary machine learning platform that empowers portfolio managers, analysts and chief investment officers to augment their existing investment processes, source new ideas and manage risks.
- In May 2019, Amazon Web Services (AWS), an Amazon.com company, announced that Emirates NBD, a leading bank in the Middle East, is collaborating with AWS to create a culture of innovation within the bank and is using AWS machine learning (ML) services to build a personalized retail customer banking experience. Emirates NBD is also utilizing AWS data analytics, Internet of Things (IoT), Natural Language Processing (NLP), and other advanced technologies as part of its ongoing efforts to better engage with customers and simplify banking. With AWS, Emirates NBD will take further advantage of AWS artificial intelligence and machine learning services including Amazon SageMaker, a fully managed machine learning service for building, training, and deploying machine learning models to provide relevant real-time banking experiences. This will show the way for AI into banking asset management sector.
Vertical Insights
The BFSI segment led the market and accounted for more than 20.0% share of the global revenue in 2019. This is attributed to the rapid adoption of AI in asset management systems in the financial services and banking sector. There are several applications of AI in financial services, including alpha generation and stewardship in asset management, risk management, fraud detection, relationship manager augmentation, and algorithmic trading. For instance, BlackRock, Inc., an American investment management organization, offers an asset management solution, called FutureAdvisor that digitizes the wealth management process for financial institutions and their advisors to serve clients in a scalable way.
Other verticals in the industry include healthcare, retail and e-commerce, energy and utilities, media and entertainment, automotive, and others. The Conversational AI platform is one of the most used applications in every vertical. For instance, Lexalytics, a U.S.-based provider of sentiment and intent analysis, offers an NLP-based intelligence platform that extracts actionable insights from complex text data. This platform serves several industries, including retail and e-commerce, financial services, restaurants/food services, market research, marketing and advertising, pharmaceuticals, biotechnology and healthcare, and airlines and airports. Moreover, building and infrastructure, transportation, consumer goods, and travel and hospitality are other verticals where artificial intelligence is being used for asset management applications.
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AI In Asset Management Market Segmentation
Grand View Research has segmented the global AI in asset management market based on technology, deployment mode, application, vertical, and region:
Artificial Intelligence In Asset Management Technology Outlook (Revenue, USD Million, 2016 – 2027)
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Machine Learning
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Natural Language Processing (NLP)
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Others
Artificial Intelligence In Asset Management Deployment Mode Outlook (Revenue, USD Million, 2016 – 2027)
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On-Premises
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Cloud
Artificial Intelligence In Asset Management Application Outlook (Revenue, USD Million, 2016 – 2027)
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Portfolio Optimization
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Conversational Platform
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Risk & Compliance
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Data Analysis
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Process Automation
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Others
Artificial Intelligence In Asset Management Vertical Outlook (Revenue, USD Million, 2016 – 2027)
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BFSI
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Healthcare
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Retail & E-commerce
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Energy & Utilities
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Media & Entertainment
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Automotive
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Others
Artificial Intelligence In Asset Management Regional Outlook (Revenue, USD Million, 2016 – 2027)
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North America
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The U.S.
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Canada
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Mexico
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Europe
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The U.K.
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Germany
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France
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Asia Pacific
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China
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Japan
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India
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South America
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Brazil
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Middle East and Africa (MEA)
List of Key Players of Artificial Intelligence (AI) In Asset Management Market
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Amazon Web Services, Inc.
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BlackRock, Inc.
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CapitalG
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Charles Schwab & Co., Inc
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Genpact
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Infosys Limited
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International Business Machines Corporation
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IPsoft Inc.
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Lexalytics
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Microsoft
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Narrative Science
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Next IT Corp.
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S&P Global
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Salesforce.com, Inc.
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