In 2016, we issued a paper on what we saw as five major innovations that were causing disruptions both within and outside of their respective industries. We have revisited those themes, namely: Watsonization, Googlization, Amazonization, Uberization and Twitterization, to provide you with an up-to-date picture of the innovations occurring in our industry today. Over the next few months we will share our findings and recent developments for each theme. First up: 

Watsonization 2.0  

Artificial intelligence is quickly transitioning from curiosity to critical cog in efforts to monetize data and power applications from front to back office. In this paper we provide:

  • A brief history. Watson has gone on to be commercialized, providing the cognitive computing foundation for myriad enterprises and applications.
  • Recent developments. The real power of AI isn’t just that it’s faster and more accurate, it is included to do things differently.
  • Wide-ranging applications. Medicine, farming, logistics and law are only some of the countless sectors being transformed by AI.
  • AI in financial services. Given asset managers’ reliance on efficient data processing, rapid decision making and accurate reporting, there are numerous ways AI can have an impact.
  • Examples of AI in Asset Management. See how AI is enhancing the client experience, financial advice, portfolio management, research, credit analysis and risk management.
  • Operations. Asset management operations are becoming increasingly complex due to portfolio diversification, regulatory scrutiny, demanding clients and a globalizing market. AI can alleviate some of this burden with automation by performing operational tasks with greater efficiency and accuracy.

Successfully harnessing technology in a complex and heavily regulated industry like ours is not easy. With new technologies and business models making change a constant, the financial services industry is being reorganized, re-engineered and reinvented before our eyes.