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Broadridge: Investments in AI and Digital Assets Surge
- Data harmonization is vital for implementing AI and digital assets, with 80% of firms investing in AI and 50% predicting significant adoption of digital assets in capital markets in the coming years.
- 58% of financial services executives prioritize a clear data strategy for maximizing technology ROI, yet 40% face data quality challenges.
- 41% of executives feel their technology strategy is not progressing fast enough, and 46% believe legacy tech is impacting resiliency negatively.
- Firms plan to allocate 29% of their total IT spend to technology innovation over the next two years, a 7% increase from the previous year.
- Financial services focus on data strategy, AI, digital assets, and resilience in response to market demands in 2025, per Broadridge's Digital Transformation & Next-Gen Technology Study.
- Executives acknowledge the importance of addressing data harmonization and legacy tech to drive digital transformation and innovation in financial services.
- Investments in GenAI are surging, with 72% of firms making significant investments this year, up from 40% in 2024.
- Financial services are also heavily investing in blockchain, cryptocurrency, and cloud platforms to enhance operational efficiency and agility.
- The study reveals a shift towards leveraging GenAI for productivity gains and increased focus on digital assets, including blockchain technologies and cryptocurrency.
- Cloud technology remains crucial for scalability and operational efficiency, with 86% of firms integrating it and 84% making substantial investments this year.
- Broadridge's study provides insights from over 500 financial services leaders globally, outlining trends in data, AI, cryptocurrency, cybersecurity, and personalization.
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