How to effectively manage consultant databases with modern artificial intelligence solutions?

Investors indulge in research and analysis to find high-yield assets and opportunities. However, some investors might not be that efficient in conducting research and analysis. Therefore, they depend on expert individuals to do the job on their behalf. It is where asset managers, fund consultants or fund brokers come into the picture. They manage the assets of an individual/company and help them earn higher returns. Have you ever wondered how investors search for reliable asset managers to manage their wealth? Investors depend on consultant databases to connect with dedicated asset managers or fund consultants.

Asset managers frequently upload info related to their services on consultant databases. Investors search for reliable asset managers even before sending a request for proposal (RFP). By updating product info on consultant databases, asset managers boost their visibility. However, updating consultant databases timely can be a hassle for asset managers. A consultant database (CDB) needs to be updated at frequent intervals to boost discoverability. Often, asset managers spend much of their time on a single consultant database for the lack of time. For the same reason, they depend on CDB support services from third parties. Since the complexity of the CDB update process is increasing, asset managers are now looking for artificial intelligence (AI)-powered solutions. Let us see how AI-powered solutions are boosting the CDB update process.

How to manage CDBs with AI solutions?

AI is making waves in the investment industry because of its automation powers. Many asset managers are already leveraging the power of AI-led solutions. How AI helps in the management of consultant databases is as follows:

Automated CDB updates

As discussed above, updating CDBs is of utmost importance for asset managers. Often, asset managers have to cover many consultant databases in quick time. As a result, they end up updating only a few consultant databases. It has a serious impact on the visibility of products offered by any asset manager. Not to forget, asset managers spend a lot of time on the update process and hence cannot focus on their core responsibilities.

With an AI-powered solution such as EDGE, asset managers can reduce the need for manual labour. An AI-led solution will offer end-to-end automated updates with reduced turnaround time. Asset managers can focus on core responsibilities, while mundane tasks can be completed with an AI-led solution.

Data accuracy with AI

Timely submission of CDB updates is not enough for asset managers. They also need to ensure the accuracy of the data submitted to boost visibility. Incomplete product info will not boost the visibility of an asset manager. A lot of updates have to be submitted in quick succession, which makes maintaining data accuracy a tough nut to crack. It is where an AI-led CDB management solution can contribute. With an AI solution, database updates can be submitted without human errors.