Advocacy Talking Points 14 December 2021
AI and Big Data Adoption in APAC Financial Services and Strategies for Talent Development
Webinar presented by CFA Institute
Financial institutions across major financial centres in APAC are increasingly recognizing the benefits of artificial intelligence (AI) and big data. According to a recent CFA Institute survey commissioned by the Hong Kong Institute for Monetary and Financial Research (HKIMR), 71% respondents indicated their firms are either already using some AI and big data applications or planned to do so in the next 12 months.
How should financial institutions and finance professionals prepare themselves for what is likely the most significant change they will experience in their career? What is the secret sauce to successfully adopting AI and big data in finance? What type of talents are most in demand?
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Giorgio Valente currently heads the Hong Kong Institute of Monetary and Financial Research (HKIMR), the research arm of the Hong Kong Academy of Finance. He is also a Fellow of the Asian Bureau of Finance and Economic Research (ABFER) and Associate Fellow of the Center for Economic Policy Research (CEPR). Previously, Giorgio held academic positions at, among others, the University of Warwick, the Chinese University of Hong Kong and City University of Hong Kong. His work has been published in leading journals in finance and economics. He served as co-Editor of Applied Financial Economics and Applied Financial Economics Letters and he is currently on the editorial board of the Pacific Economic Review and the Journal of Financial Studies. Over the years, and prior to his current role, he visited and consulted for several institutions including the US Federal Reserve, the Hong Kong Monetary Authority and the Bank for International Settlements.
Larry Cao, CFA, is senior director of industry research at CFA Institute. He conducts original research with a focus on investment industry trends and investment expertise. Mr. Cao’s current research interests include multi-asset strategies and fintech. He frequently speaks at industry conferences on these topics and has more than 20 years of experience in the investment industry. Mr. Cao started his career at the People’s Bank of China as a US dollar fixed-income portfolio manager. He has worked at HSBC as senior manager for the Asia-Pacific region; Munder Capital Management, managing US and international equity portfolios; and Morningstar/Ibbotson Associates, managing multi-asset investment programs for a global financial institution clientele. Mr. Cao has been interviewed by a wide range of business media, including Bloomberg, CNN, the Financial Times, South China Morning Post, and the Wall Street Journal. He pursued graduate studies at Harvard University and was a visiting scholar at MIT.
Professor Kar Yan TAM is Dean of the HKUST Business School and Chair Professor of Information Systems, Business Statistics and Operations Management. Prior to being Dean of the Business School, he was Dean of Students and Associate Provost at HKUST. Professor Tam is currently a board member of the Association to Advance Collegiate Schools of Business (AACSB) and the European Foundation for Management Development (EFMD) and was the Past President of the Association of Asia Pacific Business Schools (AAPBS). He has served on the Steering Group on Financial Technologies of FSTB and the Hong Kong Deposit Protection Board. Currently, he is the Chairperson of the Curriculum Development Council of the Education Bureau and serves on the Exchange Fund Advisory Committee, Hong Kong Productivity Council, the Board of the Hong Kong Metropolitan University, THEi Council, and the Anti-Money Laundering and Counter-Terrorist Financing Review Tribunal. He is a member of the Academy of Finance.