Chapter 1: Data & Technology Trends
While the topic of how to interact, leverage, and utilize data to gain valuable insights on how to increase LP transparency is still topical, the dominant trend in the industry right now is around the utilization of AI and advanced data analytics.
Whether you are a believer or an AI skeptic, it’s clear that the new AI trend has accelerated the need for alternative asset professionals to learn, embrace, and adopt new technology strategies to remain competitive and relevant.
Now, firms are assessing how data and technology can facilitate informed investment decisions, address regulatory challenges, and enhance operational processes. Long story short, embracing a data and technology-first mindset is no longer just a strategic advantage—it’s a necessity for staying competitive in an increasingly data-driven world.
What to ask when considering a technology solution for your firm:
- Which part(s) of your operations would be best served by increased data capabilities?
- Who are the stakeholders who stand to benefit from a data strategy? How do they benefit?
- Where are there problems in your ability to generate and capture data?
- Which processes could be streamlined by or be better-informed by data?
- What data would you like to have but don't currently?
- Where could technology be used to facilitate internal processes that may be generating data that isn't currently captured?
- Where and how do you currently store data?
- How usable is your data in it's current form?
- Who do you depend upon to make your data usable?