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Jul. 31, 2024

How Hedge Funds Are Approaching AI Use

  • Vincent Pitaro
    Cybersecurity Law Report
Financial services firms’ use of Generative AI (Gen AI) tools has seen an uptick. Successful integration of AI tools requires proper investment in technology and people. The Alternative Investment Management Association (AIMA) recently asked more than 150 hedge fund managers about their adoption of Gen AI, as well as its potential benefits and challenges, including management of data security and privacy issues. The survey’s resulting report “is a useful strategic roadmap to help asset management firms engage with and harness the power of this evolving technology,” AIMA managing director Tom Kehoe told the Cybersecurity Law Report. This article synthesizes AIMA’s key findings, with additional insights from Kehoe. See our two-part series on the practicalities of AI governance: “AI Governance Gets Real: Tips From a Chat Platform on Building a Program” (Feb. 1, 2023), and “AI Governance Gets Real: Core Compliance Strategies” (Feb. 8, 2023).

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