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Philippines Wealth Management Forum 2019 - Exclusive Insights - Mark Buesser

Mark Buesser

Chief Executive Officer

IMTF

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Read the transcript here

  • 1. What’s the role of Data and AI for wealth management firms today?

    Everybody speaks about artificial intelligence, but first of all, what is actually artificial intelligence? It's machine learning, it's speech-to-text, it's many of these, but at the end of the day, it has a lot to do with rules. It has to do with rule engines, which basically can learn. So there is a rule that if after an event has come up maybe for the fifth time, then obviously it can be adapted automatically. A lot of people speak about their brilliant solutions which all are based on AI, which, I think is slightly exaggerated. It's basically just taking automation one step ahead. It has to do with adding those algorithms to the analytics, which have been around already. So, basically, I think it's quite evolutionary. It's not a revolution. It's not a big jump. It's something which is coming more as a natural evolution.