Delta Data attended and exhibited at the inaugural  Investment Company Institute’s (ICI) Innovate conference in San Diego, California February 6-8, 2024, connecting with clients and industry partners and exploring how emerging technologies are shaping all aspects of the fund industry.

From AI to robotics, distributed ledger to machine learning, technology is transforming all aspects of how the industry operates, and the conference served as a forum for an array of insightful discussions around where we are and where we’re going.

Here are some highlights from the three-day event:

Artificial Intelligence or Artificial Chaos?

The first keynote of the ICI Innovate program launched with Pascal Belaud, General Manager of Customer Success Data & AI Group at Microsoft, discussing generative AI, how it’s shaping our world, and giving real-world applications of these innovative tools.

Belaud shared his top four capabilities for generative AI are content generation, summarization, code generation, and semantic search. But he warned that while opportunities for automation and productivity gains are abundant, so too are new and rapidly emerging threat vectors from fraudsters.

After walking through specific applications of generative AI, Belaud was joined on stage by Joe Boerio, EVP, Chief Risk & Transformation Officer at Franklin Templeton, to continue the conversation in a fireside chat. Belaud shared that while things are changing at a rapid pace “we’re helping regulators come up with rules for AI, and making sure we’re all governed by the same rules for AI.”

First Year Impact of AI on Asset Management Industry

During the ‘Asset Management’s First Year of GenAI: Disruption, Transformation, and Future Directions’ panel, Calen Byers and Tim Persons from PwC examined the industry’s first year of living in the generative AI era and delved into the transformative potential of GenAI within the asset management sector.

They shared their perspective on the anticipated sector disruption and the importance of thinking beyond individual use cases to unlock GenAI’s scalability. The duo also addressed operational challenges in practice and underscored the critical role of Responsible AI in ensuring ethical, trustworthy AI that enhances, rather than erodes, business value.

Future of Distribution in AI Era

In a discussion moderated by Deep Ratna Srivastav, Global Head of AI & Digital Transformation at Franklin Templeton, on ‘The Future of Distribution – Reimagining Distribution in the AI Era,’ panelists spoke about the transformational effect of AI on distribution.

The session featured discussions on distribution problems most solvable with AI technologies, considerations in building vs buying AI solutions, and organizing talent and technology for success in AI. While diving into how the industry is reimagining distribution in the AI era, panelists stressed the importance of being willing to try new things and encouraged attendees to seek out partners that can be a source of guidance on how to experiment with these emerging technologies.

Counterparty Management and Oversight

As the mutual fund industry continues to evolve, intermediary distribution continues to play a prominent role, and as a result, oversight and compliance initiatives are evolving as well. Continued attention to the intermediary oversight component of comprehensive compliance programs will help asset managers meet the needs of the changing industry.

Jason Davenport took the stage at ICI Innovate for a demo of Delta Data’s Counterparty Management solution, showing attendees how asset management firms can improve efficiency and streamline their oversight due diligence workflows.

He demonstrated how a controlled approach to intermediary monitoring that automates oversight processes and expands comprehensive reporting capabilities can enhance compliance, efficiency, and transparency in oversight programs.

ICI Remains the Voice of Industry Advocacy

ICI President and CEO Eric Pan addressed attendees at the 2024 ICI Innovate conference for a keynote address, focusing on how ICI continues to be the voice of industry advocacy during this age of technological developments and constant regulatory changes.

Pan stressed the importance of ICI member engagement in shaping government regulations that work for the industry.

“At the end of the day, we’re only as effective as the willingness of all of you to spend time with us, and make sure we’re best reflecting your interest…Just imagine if we have this momentum, there’s great things we can do together,” he said.

ICI Innovate 2024 provided attendees with an opportunity for robust discussion on the trends impacting every facet of the fund industry. As a conference exhibitor, Delta Data was pleased to participate in the conversations around emerging technologies that are shaping and transforming asset management business.

To commemorate this year’s 100th anniversary of the mutual fund, Delta Data is hosting a monthly trivia contest. Answer this month’s mutual fund trivia question here for a chance to win a prize!

Learn more about how Delta Data solutions are helping Asset Managers and Fund Distributors drive efficiency and mitigate risk in this era of technological innovation.