In a video from the FundForum International conference which took place in Copenhagen, BBH’s head of European Fintech Product Management, Simone Vroegop, explores the increasing role AI is playing in asset management including: what asset managers should be thinking about as they look to implement AI solutions, what asset managers need from their service providers when it comes to data, and how asset servicers can play the role of data servicer, especially with regards to transparency and regulatory requirements.
And in a company article, BBH describes how it has spent a considerable amount of time exploring the ways that AI and machine learning can enhance the back and middle offices. Based on its experience using robotic process automation (RPA) to automate discrete business processes, there was a natural evolution toward combining RPA with AI. After many iterations, the firm launched two AI and machine learning initiatives.
In creating the framework for AI, they went through an operational metamorphosis, emerging with new processes, controls, and buy-in from stakeholders spanning the entire business. They could also be introspective about some of the bigger themes that are shaping the business and the industry: operational efficiency, design thinking, agile project management, the future of work, employee roles and skillsets, and enterprise communication, just to name of few.
In this post, BBH reflects on its AI journey from pilot program to pragmatic transformation, sharing three success factors that helped the firm achieve its goals.