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 study, released Tuesday by US fintech firm Clearwater Analytics, indicated the adoption of AI will have a major impact on labour-intensive operations. Of the fund managers polled, 62 per cent said they expected transformative change in data generation and...