With the release of this research, the group's prior emphasis on fund tokenization has significantly shifted to an exploration of the rapidly developing subject of artificial intelligence (AI) in asset management.

The study identifies major possibilities and adoption constraints while highlighting current and prospective uses of AI in asset management. These revelations highlight the UK's leadership in financial services technology at a pivotal juncture—right before the International Investment Summit.

The Economic Secretary to the Treasury and City Minister, Tulip Siddiq MP, approved with the report's conclusions. "I am overjoyed to receive the Technology Working Group's report today. It gives asset managers in the UK a road map for utilizing AI's potential and seizing the huge possibilities it presents.

"This report showcases UK financial services at their most innovative once again, right before the International Investment Summit," the speaker declared.

Prominent names including HM Treasury, the Financial Conduct Authority, EY, Legal & General Investment Management, and large financial firms like Fidelity International, Baillie Gifford, JP Morgan, M&G, and Schroders are among the organizations that are involved in the Technology Working Group. The thorough analysis presented in this crucial research also included contributions from other important participants, including Archax, Aquis Exchange, Augmentum, Calastone, CMS, Copper, Galaxy Digital, Hargreaves, Innovate Finance, London Stock Exchange Group, NEST, and Northern Trust.

The report's insights are anticipated to assist asset managers in the UK in integrating AI technology strategically, promoting creativity and strengthening their competitive edge in the global marketplace.