Responsible innovation: how can European asset managers lead?
Summary
While fintech providers are developing hardware and protocols to protect digital keys, there is a fundamental trade-off between how quickly a firm can deploy new technology, and the robustness of its operating platform. For example, one participant is teaching IBM’s Watson AI question-answering computer system to provide investment advice to wealth managers through a virtual assistant. Financial services’ lack of uniformity and heavily regulated nature will make it difficult for an Amazon-like entity to enter the investment product distribution space. With one transparent ledger and proof of ownership for all parties, asset managers would no longer have to maintain their records for fund transactions and could pass savings to clients. By embracing responsible innovation, asset managers will ensure sustainable competitive advantage and remain key actors in the future of finance.
Classifications
AskAI Classifications
LabelsLinked Companies
