With annual budget and business planning just around the corner, you’re no doubt facing new, rising, or unforeseen expenses. Many of these costs are expected, but there are some that may not be as apparent at first glance.
For example, 75% of asset management firms are expected to increase their spending on AI in the coming year, with budget increases for the new technology ranging from $500,000 to $5 million or more, according to Chief Investment Officer.
The reason for this increase?
According to the report, 48% of respondents credit AI with substantial benefits, such as the ability to create personal marketing campaigns, increased innovation, and increased sales.
