In this episode of The AI in Business Podcast, Deep Srivastav, Chief AI Officer at Franklin Templeton, discusses the current state and future opportunities of AI in wealth and asset management. He emphasizes that the industry's knowledge-driven nature makes it ripe for AI transformation, but firms face challenges such as ensuring data accuracy, managing regulatory demands, and harmonizing data systems. Srivastav highlights the importance of focusing on transforming entire business processes rather than isolated use cases to achieve ROI, and he shares Franklin Templeton's approach to building a successful AI roadmap through cross-functional collaboration. He also touches on the potential for AI to broaden access to sophisticated financial services and the exciting possibilities of verticalizing AI for financial applications and enhancing personalization for clients.
