The Technology Working Group, chaired by Michelle Scrimgeour and supported by the Investment Association, has unveiled its third and final report titled “Intelligent Investment: AI Deployment Strategies for UK Investment Management Firms.”
This report marks a significant shift from the group’s previous focus on fund tokenisation to exploring the burgeoning field of artificial intelligence (AI) within asset management.
The report highlights existing and potential future applications of AI in asset management, identifying key opportunities and barriers to adoption. These insights come at a crucial time, just before the International Investment Summit, underlining the UK’s role as a pioneer in financial services technology.
Tulip Siddiq MP, the Economic Secretary to the Treasury and City Minister, endorsed the report’s findings. “I am thrilled to welcome today’s report from the Technology Working Group. It provides UK asset managers with a blueprint for harnessing the power of AI and capturing the enormous opportunities it creates.
“On the eve of the International Investment Summit, this report once again demonstrates UK financial services at its cutting-edge best,” she said.
Participating organizations in the Technology Working Group include prominent names like HM Treasury, the Financial Conduct Authority, EY, Legal & General Investment Management, and major financial institutions such as Fidelity International, Baillie Gifford, JP Morgan, M&G, and Schroders. Other key members like Archax, Aquis Exchange, Augmentum, Calastone, CMS, Copper, Galaxy Digital, Hargreaves, Innovate Finance, London Stock Exchange Group, NEST, and Northern Trust also contributed to the comprehensive analysis provided in this pivotal report.
The insights from this report are expected to guide UK asset managers through the strategic integration of AI technologies, fostering innovation and enhancing competitive advantages in the global market.
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