NEW YORK, Oct. 9, 2023 /PRNewswire/ — The “artificial intelligence in asset management market by deployment (on-premises and cloud), industry application (BFSI, retail and e-commerce, healthcare, energy and utilities, and others), and geography (North America, Europe, APAC, Middle East and Africa, and South America) – Forecast and Analysis 2023-2027″ report has been added to the technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for artificial intelligence in the asset management market from 2022 to 2027 is USD 10.37 billion. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

The rapid adoption of artificial intelligence in asset management and the growing importance of asset tracking are key factors driving market growth. Asset management, which has been revolutionized using artificial intelligence, is increasingly using AI. This technology, which enables asset managers to make more rapid and informed investment decisions, will use complex algorithms for the analyses and interpretation of vast amounts of data that are being received at any time. Moreover, AI algorithms can analyze data to identify trends and patterns that can be missed by humans, such as the correlation between asset prices with indicators in the economy. This information can be used by wealth managers to come up with more efficient investment strategies. Furthermore, assets could be equipped with sensors and other devices to collect data about their condition, location, and use under the Internet of Things. These data feed into artificial intelligence systems which provide real-time insight on the health, availability, and use of assets. Hence, these factors are expected to drive market growth during the forecast period. 

Market Challenge

The rising number of data privacy and cybersecurity issues is a significant challenge restricting market growth. Artificial intelligence technology is beneficial for asset management firms, but it also poses a great deal of privacy and cybersecurity risk. The use of private and confidential information is a major concern. Big data sets are a prerequisite for artificial intelligence algorithms to function, so that wealth management firms can make decisions on their own. Another problem is the use of external data sources, which may give rise to access and ownership issues. Verification of data processing and identification of ownership can be difficult in the case of artificial intelligence systems that rely on such data sources. Hence, these factors are expected to restrict market growth during the forecast period.

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Artificial Intelligence in the asset management market has been segmented by deployment (on-premises and cloud), industry application (BFSI, retail and e-commerce, healthcare, energy and utilities, and others), and geography (North America, Europe, APAC, Middle East and Africa, and South America). 

• The market share growth by the on-premises segment will be significant during the forecast period. In comparison to cloud solutions, on-premises artificial intelligence solutions enable organizations to have more control and flexibility in managing their data. These solutions have been installed locally on the servers of your company and are specially adapted to your specific business needs. The fact that organizations are fully responsible for data is one of the major benefits of on-premises artificial intelligence solutions. It is possible to configure the software according to your organization’s specific requirements because it is installed on its servers. In addition, due to the data processing being done locally at the firm’s servers, on-premises solutions can perform better and respond more quickly. It allows organizations to gather more precise and quantifiable information, which will have a positive effect on decision-making. Hence, these factors are expected to drive segment growth during the forecast period.

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Key Companies in the Artificial Intelligence in Asset Management Market:

Amazon.com Inc., AXOVISION GmbH, BlackRock Inc., Deloitte Touche Tohmatsu Ltd., Genpact Ltd., Infosys Ltd., International Business Machines Corp., Lexalytics Inc., Microsoft Corp., New Narrative Ltd., Salesforce Inc., and The Charles Schwab Corp.

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Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Deployment

Market Segmentation by Industry Application

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

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