Mohamed El-Erian, president, Queens’ College at Cambridge, mentioned that Generative artificial intelligence (AI) technologies can impact on the field of asset management. The impact might result in both destruction and growth, stated Cointelegraph.
Sources revealed that El-Erian mentioned that generative AI is “a massively disruptive innovation and is just getting started, ” added Cointelegraph.
“Put together, this dynamic will further push the industry trends towards a structure of a handful of very big firms and a larger number of much smaller niche players. Mid-sized managers, those with $100 billion to $500 billion of assets under management, and the Gen AI-lagging firms will be pressured to consolidate or simply atrophy. This is where the job destruction occurs,” El-Erian, explained.
The Queens’ College president is expected to have issued a warning that those who lag behind in their understanding of the capabilities of generative AI will find it “increasingly hard to catch up,” concluded Cointelegraph.
(With insights from Cointelegraph)
