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  "documentTitle": "Reinventing Operations in Asset Management",
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      "text": "That said, the operations leaders participating in the study display a comprehensive knowledge of the potential of DLT in the asset management industry—a fact evidenced by the findings on where asset managers expect it to have the greatest impact. Transaction management, collateral management, derivatives processing, reconciliations and data management are all expected to benefit from DLT's immutability and ability to take securitization into the digital world by efficiently distributing traditional and new asset classes with enhanced investor transparency.",
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      "text": "From an application standpoint, respondents indicated that the top five functions where they believe AI will have the most impact are: Reconciliations, Transaction management, Risk management, Data management, Compliance. Respondents expect that the tax function, which is historically a less automated function, will be the last to benefit from AI. Bottom line: momentum is starting to build; use cases are available that showcase how firms are capturing the AI opportunity.",
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      "text": "AI is already being used at scale in the front office. That's just one area of rising use: some funds are being managed using AI, while other asset managers are interrogating big data to forecast events such as election outcomes and to develop related investment ideas. While AI-at-scale is not yet the case across the middle and back offices in general, the study shows that the larger firms (more than $500 billion) tend to have AI initiatives completed or underway in their middle and back offices. Also, operational leaders have high expectations for AI, with 70 percent expecting it to deliver the next wave of cost reductions to the industry.",
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      "text": "Many players in the capital markets industry are experimenting with DLT or blockchain infrastructure, yet very few firms identified DLT as a top technology initiative. DLT has many potential applications in the industry, ranging from issuance (putting deal processes on a distributed ledger, redefining syndicates, etc.) to asset and wealth management, where it could be used to update reference data and create fractional and digital asset vehicles. However, firms seem to be taking a wait-and-see stance toward these opportunities. In fact, respondents indicate that DLT and smart contracts were among the least mature technology initiatives in the industry.",
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