Asia Pacific (APAC)’s adoption of artificial intelligence (AI) and machine learning (ML) in financial markets is accelerating. According to new research by Refinitiv, which surveyed more than 420 data scientists, quants, technology and data decision-makers ,COVID-19 is expected to further push adoption of AI/ML. According to the study, 31 percent of respondents in Asia said that AI/ML has become more important in their organization as a result of the pandemic, and 35 percent anticipate increased investment in AI/ML amid the public health crisis.
The research found that a much larger proportion of APAC respondents have deployed AI/ML for investment research and idea generation (40 percent) when compared to Europe, the Middle East and Africa (EMEA) (19 percent) and the Americas (35 percent). Additionally, since APAC is home to several global trading hubs, more companies in the region are leveraging commodities, supply chain and shipping data compared to their international counterparts, the study found, making Asia’s AI/ML poised to shape the future of supply chain insights.