BFSI firms embrace AI, ML, and NLP-based solutions to achieve strategic targets

Unlike other industries grappling with the current social, geo-political, and economic impact in addition to the pandemic-driven changes, the drive to generate returns has remained consistent in the investment management industry. To prepare themselves for the future, firms are looking to readily embrace artificial intelligence (AI), machine learning (ML), and natural language processing (NLP)-based solutions to achieve operational and strategic targets. To build an organization that can leverage data analytics in investment management, firms must:

• Establish capable technical and data architecture to meet the stated objectives

• Institute policies, guidelines, and associated metrics

• Empower teams with the required contextual knowledge and address cultural impacts

Data monetization strategies and becoming insight driven can help firms create exponential possibilities for investment management.