Christmas has gone, and the New Year has begun! As we scramble to catch up on the December emails and get back into the financial flow of things – there are couple of changes and trends that will have an impact on asset managers in 2019. (No, Brexit is not the only thing you should be thinking about!) The latest changes we’re talking about range from AI integrations to the value of content.
New Year, New AI
In Robotics Tomorrow, the experts from leading AI provider, Fractal Analytics, revealed what techie trends are set to shape the market in 2019. The New Year will witness a notable rise in competition within the industry, such as businesses feeling more pressure to deliver an efficient service, plus financial institutions will link fees to performance, as well as partnering up with more FinTech companies.
With all these points in mind, asset management companies should consider the following at their next strategy meeting:
- Customer service will be enhanced to offer a personalised experience to engage consumers and employees in innovative ways
- Natural Language Processing (NLP) and voice integration (with back-end data and analytics) will be used more
- Robotic Process Automation (RPA) will increase the level of productivity and efficiency concerning back-office operations, which will include more complex tasks
- Data processing and IoT will move from the Cloud to the Edge for optimisation, such as real-time decision making
- Natural Language Processing (NLP) interfaces and predictive insights will be incorporated into metrics dashboards
- Simplified investment solutions will be simplified and made available via online/mobile access
Content is King
In addition to AI, there will be a shift in perspective towards the output of content. Providing rich content cannot be avoided and will not be ignored any longer. It’s not all about punchy sales pitches disguised as cutting-edge copy to generate sales. People want to read thought leadership articles and news that affects them.
Due to a greater demand for high-quality content and data, asset management firms can expect the following:
- Automation and meta-data are on the rise! Video content is the leading format for growing a brand, which means the requirements for data storage will grow too
- Data storage and security is key. Enterprises must comply with the regulations related to collecting and storing data in the Cloud, ensuring all locations are verified and secure
- Analytics will be used by marketing teams to understand and measure the ROI for the content they produce, with AI being utilised for contextualising data
- Digital assets, like content, will be processed, uploaded, extracted, and migrated in a faster and efficient way, with Cloud-based systems
- Engaging with clients using state-of-the-art technology, from virtual reality to mobile platforms
- AI and predictive asset management will be used to learn consumer behaviours and drive revenue, to sustain the value of content through online sharing
So, take advantage of the data you’re managing and the content you’re distributing – make it all count!
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