Finance firms set to pour more investment into AI amid ‘data divide’ fears

A majority of surveyed global asset management firms plan to raise their artificial intelligence budgets by at least 50 per cent within the next year as the technology transforms the finance industry, a recent study showed. The adoption of AI is also going to have a big impact on labour-intensive operations: 62 per cent of polled fund managers expect transformative change in data generation and summarisation, according to a study released Tuesday by US fintech firm Clearwater...