anna devine | ignites europe | 11 april 2017
Christopher O’Driscoll, head of disruption for financial services at PA Consulting Group has been quoted in an article for Ignites Europe which examines whether artificial intelligence and robo-technology are putting the future of the fund manager at risk.
The article notes that the industry will need to evolve to survive. Christopher says that “the robots are coming,” and that fund houses are looking for AI solutions to imitate fund manager behaviour.
He also goes on to note that: “The days of fund management as we know it are numbered. The best future careers in fund management will be in building robots to research markets, scan the chatter on social media and automatically optimise their portfolios.”
Christopher adds that he doesn’t know whether this will be a career for future generations. “Fund managers have made a tidy living researching the performance of businesses around the world and investing other people’s money accordingly. But they won’t want to be advising their children to follow in their footsteps.”