Broadridge Study Highlights Surge in AI and Digital Asset Investments

Broadridge Financial Solutions has released its fifth annual Digital Transformation & Next-Gen Technology Study, revealing a notable rise in investments in AI and digital assets among financial services firms. According to the study, 80% of firms are making moderate-to-large investments in AI this year, while 50% of executives anticipate significant adoption of digital assets and ledger technology in the coming years. announced in a press release.

The study highlights that data harmonization is crucial for implementing AI and digital assets, with 58% of technology and operations executives agreeing that a clear data strategy maximizes technology investment returns. However, 40% of executives acknowledge data quality issues, and 46% feel that legacy technology is impacting their operational resilience.

Firms are expected to allocate 29% of their total IT spend to technology innovation over the next two years, marking a seven percentage point increase from the previous year. The study also notes that 72% of firms are investing in Generative AI (GenAI), with expectations of significant impacts on employee productivity and market research.

Additionally, the study reports that nearly three-quarters of firms are investing in blockchain and distributed ledger technologies, with 64% making substantial investments in cryptocurrency. The findings underscore the growing importance of cloud platforms, with 86% of firms integrating them into their processes to enhance scalability and operational efficiency.