The global AI in asset management market size is expected to reach USD 17.01 billion by 2030, expanding at a CAGR of 24.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. Artificial intelligence (AI) in asset management refers to the automation of IT asset 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. The current landscape of AI applications in asset and investment management include management of digital assets and physical assets and investment advisory consumer applications.
AI In Asset Management Market Report Highlights
- The machine learning segment led the market and accounted for over 65% share of the global revenue in 2022. Machine learning (ML) assists asset managers in identifying and assessing risks associated with investments by analyzing historical data, market trends, and other relevant factors. This can help asset managers better manage risks and mitigate potential losses
- The on-premises segment led the market and accounted for over 54% of the global revenue in 2022 owing to the security and privacy offered by the on-premises solutions in asset management
- Process automation segment led the market and accounted for a share of over 26% of the global revenue in 2022. Process automation is one key area where AI is widely adopted in the asset management industry. Automating repetitive and manual tasks not only helps to increase efficiency and reduce errors but also frees up resources for more strategic initiatives
- North America dominated the market and accounted for over 50% share of global revenue in 2022. This high share is attributable to favorable government initiatives to encourage the adoption of artificial intelligence (AI) across various industries
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The COVID-19 outbreak has created significant uncertainties and challenges for the Web access management (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 of digital or virtual approaches related to client interaction and distribution. Also, key players are leveraging AI and machine learning technologies to improve resilience and enhance productivity. For instance, in March 2023, Elomatic, a foremost European multidisciplinary industrial engineering, consultancy, and software design company, partnered with Silo AI Oy to develop a digital platform for ship asset analysis, maintenance, and optimization. The platform is primarily planned for offshore energy and the marine industry. It will also be designed for generic asset lifecycle management and can be operated in multiple industrial applications.
The global artificial intelligence in the asset and wealth management industry has been steadily expanding and witnessing substantial transformations due to the fundamental shift in global finance and technology. The noticeable rapid progress in technology in the last two decades has significantly improved the way industry professionals store and process data. The cost of collection & processing of stock market data across verticals has consequently reduced, which has opened new possibilities for improvement in decision-making mechanisms across industries. Analytics is revolutionizing the problem-solving paradigms of the asset management industry by reforming the functioning of some of the dimensions, including client profiling, product recommendations, customer churn, sentiment analysis, and marketing & strategy.
List of Key Players in the Artificial Intelligence (AI) in Asset Management Market
- Amazon Web Services, Inc.
- BlackRock, Inc.
- CapitalG
- Charles Schwab & Co., Inc
- Genpact
- Infosys Limited
- International Business Machines Corporation
- IPsoft Inc.
- Lexalytics
We have segmented the global AI in asset management market on the basis of technology, deployment mode, application, and region.
Artificial Intelligence (AI) in Asset Management Technology Outlook (Revenue, USD Million, 2017 - 2030)
- Machine Learning
- Natural Language Processing (NLP)
- Others
Artificial Intelligence (AI) in Asset Management Deployment Mode Outlook (Revenue, USD Million, 2017 - 2030)
- On-Premises
- Cloud
Artificial Intelligence (AI) in Asset Management Application Outlook (Revenue, USD Million, 2017 - 2030)
- Portfolio Optimization
- Conversational Platform
- Risk & Compliance
- Data Analysis
- Process Automation
- Others
Artificial Intelligence (AI) in Asset Management Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- Europe
- Asia Pacific
- South America
- Middle East and Africa (MEA)
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
Contact:
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll-Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: grandviewresearch.com
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Ambrain Capital is one of the leading capital market companies in India, providing wealth management, stock broking, corporate finance, investment banking, financial advisory, financing services.
We help investors in establishing their monetary goals and provide actionable insights that would help them in realizing their objectives.
The company is founded by Mr. Shyam Sunder Singh, having capital market experience of over a decade.
Chicago Tech, Inc. provide the asset management company in northbrook, An asset management company Chicago tech is a firm that invests pooled funds from clients, putting the capital to work through different investments including stocks, bonds, real estate, master limited partnerships, and more.
Along with high-net-worth individual (HNWI) portfolios, AMCs manage hedge funds and pension plans, and—to better serve smaller investors—create pooled structures such as mutual funds, index funds, or exchange-traded funds (ETFs), which they can manage in a single centralized portfolio.For more detail please follow below detail.Add: 3501 Woodhead Dr. Northbrook, IL 60062Mob: 8004224011
Chad Magruder is a sales expert who is well skilled in performing asset management, relationship, and change management.
He has a good hold on lead generation and cross-functional team leadership.
When it comes to his achievements, he has been awarded as the top performer in the region.
With professional experience of years, he has secured countless client deals as the service provider for two firms.
So, without wasting any time let us begin!What Is Strategic Asset Management?Strategic asset management is long-term planning & approach for maintenance and operations in which a long-term plan is made.
In this plan, it is decided, what is the objective of the company, where they want to reach, and what will be the role of asset management in these next few years!Strategic asset management helps in estimating future goals and it helps let you know where you are and where you want to reach in the next 5-10 years.To ensure that strategic asset management works efficiently an asset management software is essential.Also Read: Asset Management Strategies That Can Help Your BusinessAn effective software will enable your team with local area-driven systems, consider the possibility that situation displaying and reporting tools that transform information into guides and objectives into realities.An effective asset management software uses your data and information to give significant bits of knowledge in no time.
This solution assists you with foreseeing the condition of your full asset portfolio into the future; make powerful live information reports that tells data and information stories to partners.What Are the Benefits of Strategic Asset Management?The benefits of strategic asset management are as follow:1.
Optimizing Asset LifecycleSeveral assets are not used to their full potential and the reason behind this is that they are no managed properly.
But with strategic asset management software, managers can manage assets and equipment efficiently and increase asset life.With automated software, you can know when assets were purchased how much asset productive life is left and it will alert you when asset life is about to be over.
In strategic asset management, maintenance is one of the main primaries’ focuses it helps in reducing overall downtime of assets and helpful in increasing uptime.Most importantly, maintenance helps in making the asset more reliable.
How Wealth Managers Can Use Customer Communication Management to Strengthen Client Relationships?Sustainable client relationships are built on 3 key criteria: trust, transparency, and loyalty.
A strong relationship based on trust will create the kind of loyalty that lasts for many generations.In this blog post, I will talk about the value of customer communication management in wealth management.The continuous customer experience (CX) is essential for building trust throughout all customer journeys.Consistent customer experience is especially important when it comes to building trust, especially in wealth management.
Wherever an investor opens a dialogue, every conversation received through it needs to be coordinated at every level.From onboarding, opening a new account to KYC (know your customer), and other regulatory processes — every touchpoint of a wealth manager with his client creates an impression that affects the client’s sense of trust.Unfortunately, gaps and inconsistencies in communication can lead to a customer experience, which can erode trust and threaten customer loyalty.
Courses are managed in a federated manner, and more.Furthermore, with the rapid digitization in response to COVID, it is not surprising that communications were immediately set up for functional reasons, but it remains to be seen how they will be able to sustain users.
This is achieved by enabling clients to deliver information (via mail, email, text) and gain further access whenever they want (online, portal, or app).True, digital communication offers some advantages over print and mail — it enables faster transmission and real-time information sharing.
But, when it comes to working with their financial services providers, consumers value choice the most: the ability to choose how, when, and where they interact.The ability to educate customers and show transparency is key and can be easily achieved with an omnichannel customer communication strategy.
The Internet of Things enables the industrial assets to respond based on the collected information through sensors.
With automation being perceived as the simplified source of management, IoT technology is expected to reach outstanding levels in the coming years.Asset tracking in the industries is the ability to know the exact location/position of the item at any moment in time.
In the current scenario, many companies are adopting smart asset management to gain accuracy and error-free calculations regarding the inventories.
Also, an IoT-powered solution not only provides the information but enhances the capabilities of the assets through self-correction and predictive maintenance.Visit: https://www.biz4intellia.com/blog/3-best-reasons-to-use-iot-technology-for-asset-management/
