In 5 years, there will be over 1000 GPTs in the financial services industry which indicate the massive applications this technology has for our industry. For asset and investment management segment in particular, there are many Generative AI applications across investment, due diligence and reporting processes. To quote OpenAI, AI can assist and elevate every aspect of our working lives, making teams more creative and productive.
The various Generative AI applications being explored in asset management industry will lean on the summarize use case, the re-write use case, the document processing use case, the anomaly detection use case, and the virtual assistant use case – to name a few.
In the second part of our three-part content series on Generative AI, our new Whitepaper explores 10 different applications that our clients are considering as part of their investment, diligence, and reporting processes. These 10 applications are by no means exhaustive, and are just a start.
In this thought piece, we also discuss three practical challenges in deploying GenAI solutions, as well as what approaches could firms take in implementing a solution.
As additional resources:
- In June 2023, we published our views on risk and opportunities in the era of Generative AI.
- In July 2023, we published Generative AI DDQs for asset managers and vendors. If you’re looking to incorporate Generative AI topics as part of manager due diligence and vendor review process, please contact your client success contact to learn how to access these within DiligenceVault.
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