Top 10 disruptors in the Asset Management industry
PwC’s 2020 asset management report titled A Brave New World says that assets under management in the SAAAME (South America, Asia, Africa and the Middle East) economies are set to grow faster than in the developed world. Globally, investable assets for the asset management industry was predicted to increase to more than $100 trillion by 2020, with a compound annual growth rate of nearly 6%, according to the report. It further states that changing markets and investor needs will combine to produce a positive environment and huge opportunities for asset managers through 2020 and beyond.
Keeping this in mind, MECN speaks with Chris Roberts, CEO of Eltizam Asset Management Group, to learn how the asset management industry can keep pace with the changing developments.
Roberts says: “By now, most of us have made peace with the fact that we are in a time of increased uncertainty. Instead of resisting change, being open to it and adopting a creative and innovative mindset to evolve with it might be the best thing to do right now. Following the establishment of new standards and requirements for the management of various assets within the construction industry, technology has now taken centre stage. It is now redefining efficiency with the help of artificial intelligence (AI), internet of things (IoT), B2C and B2B apps working alongside updated processes and practises that are now becoming the norm.”
Customer facing technology
Technology advancements in the field of asset management, just like in any other field, can make our lives much more comfortable. Thanks to the rise of customer facing technology following the COVID-19 pandemic, customers are now more comfortable using technologies that initiate paperless processes, online payments, AI chatbots, etc. In light of movement and travel restrictions during the pandemic times, apps that eliminate increased physical mobility have also seen a rise. PropTech solutions are the only way to drive further efficiencies in the industry. It’s time to stop paying less, stop trying to move accommodations to the lowest level to get your technicians and cleaners at the lowest cost base. Fewer employees, however, better compensated in both salary and benefits utilising technology is the way to drive efficiencies, companies and asset owners that resist this approach will find themselves irrelevant in the next three to five years.
