Asset Managers Need to Set a Strategy to Leverage the AI Opportunity and Drive Future Growth
The asset management industry's revenues increased by just 0.2% in 2023, while costs rose by 4.3% for the year.
- The asset management industry's revenues increased by just 0.2% in 2023, while costs rose by 4.3% for the year.
- This is according to Boston Consulting Group's 22nd edition of the Global Asset Management Report, AI and the Next Wave of Transformation , released today.
- "To remain competitive, asset managers will need to seize the opportunities offered by artificial intelligence and double down on investing in enhanced productivity, product personalization, and the opportunity of private markets."
- Asset managers cannot rely on market performance to drive revenue growth in the future to the same extent that they have in the past.