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ACSA event wrap - artificial intelligence to change the way we work

Tuesday, 4 June 2019   (0 Comments)
Posted by: Kate Dent
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In front of a full house, NSW Chief Scientist and Engineer, Professor Hugh Durrant-Whyte outlined how artificial intelligence is impacting industries across the world.  He provided examples from his work in mining, health and the social science sectors, concluding that artificial intelligence will continue to be a force for good, but not without some caveats around privacy and issues relating to the polarisation of the future workforce. See chapter 1.4 of the original research paper at the following link.


In terms of advice for those entering the workforce, Professor Durrant-Whyte suggested that mathematics and statistics would be the skills in highest demand for the next wave of industry change.


The event also heard from David Knights, Chair of ACSA, who provided an overview of the Association’s current strategic focus.  ACSA CEO, Robert Brown was joined by Marsha Lee (Calastone), Karen Bailey (BNP Paribas) and Justin Burman (RBC) in providing an update of the Managed Funds Improvement Program, including focus areas of transactions, onboarding and fund data.


The event ended with a panel discussion on the Investment Professional of the Future moderated by ACSA Executive Board Member, Sally Surgeon (Northern Trust).  The panel included Elaine Cheung (J.P. Morgan), Danielle Henderson (Northern Trust) and Professor Durrant-Whyte.  Discussion covered how roles within investment administration were changing, including the factors driving future roles and pattern of change. While A.I and other technologies will be important drivers, regulation and client segment expectations are also influencing how jobs and skills sets are evolving.


Formal feedback of the event rated all sessions highly, especially the benefits of an external speaker of the quality of Professor Durrant-Whyte.


ACSA extends special thanks to Sinclair Scholfield and State Street for hosting and providing such a professional venue for this event and subsequent networking drinks.


ACSA will be holding another member event in Melbourne on 22 August 2019.  See the website for details, and please let us know what topics you would find of interest and of value to members for this and future events. 




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