Broadridge Study Shows Investments in AI and Digital Asset Surge

Data harmonization is key when it comes to implementing AI and digital assets with 80% of firms making moderate-to-large investments in AI this year; 50% of executives believe there will be a significant adoption of digital assets and ledger technology within the capital markets over the next several years a study by Broadridge Financial shows. While 58% of financial services technology and operations executives agree that a clear data strategy leads to the maximum rate of return on technology investments, 40% admit to having data quality issues. Almost half (41%) of executives feel their technology strategy is not moving fast enough at its current trajectory and 46% feel legacy tech is hurting resiliency. Overall, firms expect to allocate 29% of their total IT spend to technology innovation over the next two years, an increase of seven percentage points from last year’s study.