New Delhi, Sept. 16 -- Use of artificial intelligence (AI) can boost efficiency and entrenched cost structure of Asset managers noted a report by McKinsey & Company.

As per the report it is a timely opportunity for asset managers to embrace AI effectively to streamline operations and leapfrog profitability levels.

It stated that "For asset managers, the AI revolution is a timely opportunity to break out of entrenched cost structures by increasing efficiency across business functions".

The report shared an approach grounded in six core imperatives to help asset managers capture the full value of AI in their businesses.

The first pillar revolves around domain-based transformation.

The report stated that instead of pursuing fragmented u...