Almost half of alternative fund managers, including those dealing in real estate, are very focused on developing artificial intelligence in their sector.
A survey from fund administration specialist Ocorian found that 49% of private equity, venture capital and real estate fund managers described themselves as “very focused” on this area, with the same percentage “quite focused”. Only 2% said they were not focused or do not have a view.
Almost all (97%) said AI will be important to the success of their company over the next five years, with a third saying they have already seen strong results from test projects in areas such as compliance and regulation, as well as reviewing investments and recruitment.
Ocorian co-head of fund services Yegor Lanovenko said: “Alternative fund managers are moving from an experimentation period after achieving success with pilots to larger scale adoption for real-world use cases across investment operations, compliance and managing risks.”
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