Realising the True Potential of AI: A Sneak Preview of the InvestOps On-Site Report

02/19/2024

InvestOps EU brought together the top buy-side leaders from Europe and beyond. WBR Insights made sure to ask these senior executives from the world’s top investment banks and asset managers the biggest challenges they are currently facing. 


This blog dives deep into the results, uncovering the truths behind the AI craze sweeping across the industry and how heads of investment are unlocking the potential of this tool.


Data may have been the buzz at InvestOps EU, but a new contender is on the horizon: Artificial Intelligence (AI).


While concerns linger, the potential of AI to revolutionise investment operations is undeniable. This blog dives into the findings from the InvestOps EU on-site report, unveiling how investment leaders are navigating the AI landscape.




AI: A Transformer on the Horizon

Everyone agrees AI is transformative, but how are InvestOps attendees approaching it? The survey reveals both excitement and hesitation. While 68% have already adopted practical AI use cases (like ChatGPT), 41% still lack the technical skills or understanding to do so. It's a cautious embrace, highlighting the need for education and support.


The Biggest Hurdles: People, Architecture, and Cost Implementing

AI workflows faces challenges. When asked about the biggest roadblocks, heads of investment revealed they struggle with people skills (46%), followed by engineering architecture (19%) and cost (9%). Addressing these concerns is crucial for widespread adoption.


Future-Proofing the Workforce: Essential Skills for a New Era

The survey also points to the skills needed for future-proofed investment operations. Topping the list are T0 Settlements (58%), followed by Blockchain/Asset Tokenism (52%) and ESG Development (27%). Closing the skills gap in these areas will be key to unlocking AI's potential.


The ChatGPT Craze: Is Everyone on Board?

The rapid adoption of tools like ChatGPT is undeniable. 68% of respondents use it for practical purposes, with an extra 25% planning to join the AI bandwagon. This highlights the power of universal language models and their growing impact on various industries.




Why the Hesitation?

Despite the excitement, some hurdles remain. The biggest barriers to broader AI adoption include:


  • Unclear potential use cases (62%)
  • Security concerns (45%)
  • Lack of technical skills/understanding (41%)


Addressing these concerns through education, clear value propositions, and robust security measures will be crucial for wider AI acceptance.


InvestOps EU has sent a clear message: AI is transforming investment operations, and ignoring it is no longer an option. By addressing skill gaps, mitigating security concerns, and providing ongoing support, investment leaders can unlock the immense potential of AI to drive efficiency, innovation, and competitive advantage. Remember, the future is now, and it's powered by intelligence – both human and artificial.


The full InvestOps EU will be available to download soon. Beyond the potential of AI, the report will also dive into the importance of data alongside front-to-back office models.


Follow us on LinkedIn for updates about this report!

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