Artificial intelligence: Innovation or threat for portfolio management?

While technology experts grapple with the increasingly real existential threats posed by artificial intelligence (AI), the portfolio management business is quietly considering its own survival plan. OpenAI’s launch of the conversational bot ChatGPT in November last year has the investment community questioning its own future. Goldman Sachs estimates that 300 million jobs could be lost over the next 10 years, but the bank also predicts that the combination of significant labour c…