08/27/2024 | Press release | Distributed by Public on 08/27/2024 15:44
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New York City, United States27 Aug 2024
CFA Institute, the global association of investment professionals, today released new survey data on the views of investment industry employers concerning the responsible and ethical use of artificial intelligence in the investment sector. The survey canvassed the views of investment industry professionals including investment managers and human resources professionals.
The survey found widespread agreement on the need for standards for the use of artificial intelligence and that the absence of standards is preventing faster industry adoption of the technologies. The survey results also identify a need for workforce upskilling in the responsible use of AI and Generative AI tools. Respondents cited notable levels of organizational unpreparedness and workforce anxiety about the technologies.
Margaret Franklin, CFA, President and CEO, CFA Institute comments:
"Increasing accessibility to large language models is rapidly adding to the pace of the AI-led revolution of the investment industry. Many leading organizations have expertise with these tools, but industry-wide we see an unsettled picture. Employers tell us they need best practices, guardrails, and standardized policies to help their teams move safely into the new AI plus human intelligence (HI) era. Further, the absence of standards and concerns around data privacy may be slowing down AI adoption."
"We're continually researching how AI and Gen AI are being incorporated into investment roles and the implications for individuals, workflows, and firms. Our view is that the equation of AI + HI works best. As a result, we see similar needs around upskilling organizations to ensure their AI-leveraged work for investors is performed both responsibly and ethically."
Key Findings:
About CFA Institute
As the global association of investment professionals, CFA Institute sets the standard for professional excellence and credentials. We champion ethical behavior in investment markets and serve as the leading source of learning and research for the investment industry. We believe in fostering an environment where investors' interests come first, markets function at their best, and economies grow. With more than 200,000 charterholders worldwide across 160 markets, CFA Institute has 10 offices and 160 local societies. Find us at www.cfainstitute.org or follow us on LinkedIn and X at @CFAInstitute.
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