(NEW YORK)–Recent deployments of artificial intelligence may be signaling the start of the once futuristic idea of fund manager automation.
The rise of passive investing in exchange-traded funds (ETF), and index funds, has been growing among individual investors due to greater opportunities at lower fees, while also putting pressure on Wall Street’s biggest money managers to outperform these markets.
On Tuesday, BlackRock (NYSEMKT:BLK) announced plans to consolidate a large number of their actively managed mutual funds with technology that rely more on algorithms and models to pick stocks. This news sent shockwaves through the financial community as this may signal the start of automation of the nearly $70 trillion of financial assets world-wide through the use of artificial intelligence .
One technology company already making moves in this area is Apollo Enterprise Solutions, Ltd. (Xetra:OAL) (“AES”), which recently launched their TrueWealth Manager System for the wealth management industry. The Company announced a Pilot Program for its breakthrough Artificial Intelligence-powered TrueWealth Management software aimed at Asset Managers, Family Offices and Banks during a series of events held earlier in the month in Geneva, Monaco and Zurich.
Joseph Konowiecki, CEO of AES, stated, “The Asset Management industry is undergoing a multi-generational shift. Big banks are competing with medium and small family offices and asset managers for clients who are increasingly dissatisfied with service and returns in a zero interest rate world.” Konowiecki continued, “The TrueWealthManager™ combines the science of Artificial Intelligence with effective communication methods to constantly attract new potential clients, assist with the KYC Due Diligence process, as well as constantly communicate with the client in the manner that he or she wishes.” Mr. Konowieck concluded, “We feel there is simply no other technology in the marketplace that can compete with us in terms of offering small to large asset managers the competitive edge in attracting and retaining clients.”
Tom Bustamante, the President of Ludlow Research, an equity research firm base in New York City commented, “The news out of Blackrock shows that the use and implementation of artificial intelligence is not just something projected out into the future, but rather something happening now, and only expected to grow within the financial industry by the year 2020. As AI could make a difference to the way businesses operate in the future, AI Quotes, that allow you to separate science from fact and get a better understanding of how this could be implemented.
AES current launch includes up to 12 banks and asset managers in Switzerland, Luxembourg, the U.K., and Monaco, with their official launch on May 1 in all EU financial centers., with U.S. markets scheduled for Q3.
For more information on joining the AES TrueWealthManager™ Pilot Program, please contact:
Managing Director, TrueWealthManager™
Apollo Enterprise Solutions, Ltd.
Apollo Enterprise Solutions, Ltd. currently has around 44 million common shares issued and outstanding, and trades on the Frankfurt and Xetra Stock Exchange under the symbol “OAL”, and Bermuda Stock Exchange under the symbol “AES”.
AES’ TrueConversion™ Artificial Intelligence Platform, powered by Psychograhic Conversion™ AI Technology, enables financial institutions, healthcare organizations, banks, utilities, merchandisers, and enterprises in many other industries to enhance their member, customer and client experiences while increasing conversion rates for enrollment, services, and payments. The Psychographic Conversion™ AI technology uses advanced behavioral psychology, linguistics and data analytics to persuade consumers to take immediate action, at any time, from anywhere, using any smart device. The TrueConversion™ Artificial Intelligence platform is available on all continents through third-party Certified Systems Integrators and Consultants, supported by AES offices in Los Angeles, New York, London, and Sydney. AES owns one of the largest worldwide portfolios of customer conversion patents. More information about Apollo Enterprise Solutions, Ltd. (AES:BH; OAL:GR) is available at http://www.aestrue.com