MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, April 4, 2025 Addressing Fundsters' Worries About Gen AI The overwhelming majority of fundsters' firms are already using generative artificial intelligence to help with sales, marketing, and client service already or plan to do so, according to new research from the folks at a consulting ally to fund firms. Yet fundsters worry about gen AI, too.
The most common concern that fundsters have about gen AI, Ellwanger reveals, is worries about accuracy or "hallucinations" (where gen AI makes up information). That worry is cited by 78 percent of fundsters. Other common concerns include: "lack of established best practices" (cited by 48 percent of fundsters); lack of user trust (41 percent); and integration problems with internal data and systems (41 percent). Ellwanger argues that the trust, best practices, and accuracy issues "can be addressed with internal procedures." "The hallucination problem is improving with new versions of LLMs [large language models]," Ellwanger writes to MFWire. "The evolving nature of Gen AI necessitates that asset managers develop robust internal procedures to mitigate operational inefficiencies and potential legal risks. Over time, firms are moving forward with pilot programs and AI-use tests, ultimately building up experience and associated best practices," Ellwanger adds. "Lack of trust among end users is a legitimate concern, but that can be improved with time and experience." Printed from: MFWire.com/story.asp?s=69738 Copyright 2025, InvestmentWires, Inc. All Rights Reserved |
