This week on WealthDFM, we’ve been shining a spotlight on an issue that we think will play a critical role for the future of the UK’s investment management profession, and that’s about the role of people in the profession, especially given the rise in AI and impact on graduate jobs.
Despite this fast-moving approaches to adopt AI in asset management, Nedgroup Investments’ Chief Commercial Officer Api Jeyarajah tells us below why she believes the risks of over-reliance on the technology are already visible, and that graduates must ‘specialise meaningfully’ to show they add value from day one.
She states that the investment firms best placed to win long-term will be those that understand precisely where technology helps and where it hinders.
Jeyarajah said: “AI is a tool for productivity gains. For a salesperson preparing ahead of a meeting, AI can do a lot of the work that client service used to handle – mapping an account, identifying what needs to be done – very quickly. But to verify understanding, to truly get it, that can only happen through face-to-face conversation, probing, really understanding what’s on a client’s mind, what their firm’s objectives are. That part doesn’t change.
“There was a phase where everyone was using AI for their LinkedIn posts and engagement went up – but then it dropped off, because people felt it wasn’t authentic. The need for authenticity, for showcasing your true self – as an individual, as a firm – is only going to become more important, not less. Humans buy humans. That sustainability of connection is what fund selectors, analysts, and clients are ultimately buying into.
“The time it used to take to develop a creative brief that hits all the right notes can be dramatically reduced using the tools available now. But the finessing – the human creativity – still absolutely needs to be there. Otherwise, everything looks AI-generated.”
Graduate impact
Nedgroup Investments’ CCO adds that firms that will prosper are those that treat AI as a productivity tool not a relationship substitute, and that invest seriously in the leadership and culture capable of guiding people through sustained change.
But Jeyarajah has also raised concerns about the implications of an increased use in AI and the impact this has for younger professionals trying to enter the industry. Graduates will need to think hard about how they cut through into the industry and how they can really use their skills to add value.
She added: “Right now, there are a lot of graduates in the market and significantly fewer roles. The hiring that is happening is concentrated at the senior, experienced end. Graduates must evolve quickly, specialise meaningfully, and be able to demonstrate true understanding without trying to just apply AI, so they add value from day one.”
