AI Pioneers in Investment Management

Authored by Larry Cao, CFA for the CFA Institute Research and Policy Center, this benchmark report examines the adoption trends, high-impact applications, and implementation best practices of artificial intelligence (AI) and Big Data technologies across global investment management firms. Based on practitioner interviews and industry-wide surveys, the report presents case studies of pioneer institutions utilizing machine learning (ML), natural language processing (NLP), computer vision, and alternative data in fundamental and systematic investment strategies. It introduces the "AI + HI" (Artificial Intelligence + Human Intelligence) framework, highlighting how AI techniques augment human decision-making, and details the "Fintech Pyramid" model alongside five core adoption hurdles: cost, talent, technology, leadership vision, and time.