Gartner has released its 2023 Gartner Emerging Technologies and Trends Impact Radar. Let me try to give it a read with the eyes of a wealth
or asset manager.
Artificial Intelligence is all over the radar, with Foundation Models, Self-Supervised Learning, Generative AI, and more. Wealth and asset managers must seriously look into Artificial Intelligence and understand how it can be leveraged across their value chain, from investments to operations, risk management, and compliance. Part of the solution will come from their solution providers, like Bloomberg, BlackRock Aladdin, or State Street Alpha, to name a few providers. But wealth and asset managers cannot only rely on their providers. Instead, they must acquire the necessary skills and talent and play with artificial intelligence technologies. War for talent will make it complicated.
Blockchain is also quite present with Web3 and Tokenization, both being in the 3-6-year horizon. Most wealth and asset managers are already testing tokenization in one way or another, and they should continue. Tokenization will have many benefits for the industry, from speeding up transactions, eliminating some intermediaries and therefore reducing costs, making some asset classes available to smaller investors, improving the liquidity of some assets, and more. Tokenization will require some industry alignment and standards.
No surprise, Digital Twins are here too. Gartner is probably thinking more about Digital Twins in the context of manufacturing and industrial activities. But as discussed in this blog, the potential for digital twins in the financial industry is real and massive.
Then, there are hardware and infrastructure with Neuromorphic Computing, 6G, and Hyperscale Edge Computing. If wealth and asset managers continue to move to the cloud, they’ll be able to leverage these latest hardware technologies as they become available in the cloud.
Digital Transformation of Asset Managers and Wealth Managers 