06.03.24

Asset Managers Use of AI in Marketing to Advisors Is ‘Years Away’

by: Steve Randall

The use of artificial intelligence (AI) by asset managers in their sales and marketing to financial advisors is still "years away," according to a survey by FUSE Research Network. While 59% of asset managers who took part in the poll said they use AI in their intermediary distribution-related data initiatives, only 11% of firms describe their AI use in any distribution data effort as “modest” or “heavy.” Usage is generally focused on predictive analytics, lead generation, segmentation of advisors and matching product opportunities to prospects. “Asset managers are still years away from seeing ChatGPT and other Generative AI tools have a transformative effect on their data-driven sales strategies," said Loren Fox, director of research at FUSE. “Many asset managers still don’t have the large, clean, organized data sets required to use Gen AI. It’s expensive to adapt Gen AI tools to work with a firm’s data. And many asset managers lack the personnel that know how to apply AI to their data.”

Read the full article on InvestmentNews