Almost half of institutional investors say emerging tech top growth enabler

The ability to achieve growth objectives in the current environment is a key concern, according to 68% of institutional investors surveyed in a State Street poll. Meanwhile, 72% of asset owners will be opting for a defensive strategy while the same are putting their expansion plans for the next five years on ice. The growth study surveyed more than 500 global asset managers, asset owners and insurance companies.  There was a notable shift in the way respondents are planning to adapt with 48% identifying emerging technology – including blockchain and artificial intelligence – as a top growth enabler over the next five years. This represents a significant increase from just 18% in 2017. Extracting better insights from data was cited as a top focus area over the next area by 58% of respondents. “In Asia Pacific, integrating new technologies into existing infrastructure and processes is reported to be the biggest challenge around implementation (50%),” State Street said in a press release. “As a result, an increase in acquisitions and partnerships could have the biggest potential to reshape the industry, with more than half (53%) of those surveyed saying they are looking at established tech companies to support the development of emerging technology solutions.” ©2018 funds global asia

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