The ability to manage and generate insights from vast quantities of data becomes critical in an investment climate that is volatile and uncertain. Building on our previous research on data use and management, our industry survey of more than 900 asset managers, asset owners, insurers and wealth managers reveals why investing in advanced data strategies is an increasingly important priority for the industry.

Many firms see HDS as a strategic imperative with significant economic benefits, enabling them to respond rapidly to new market conditions, customer needs or evolving regulatory requirements. Australian institutions are already confident at using data to their advantage, particularly in the back office. Australian firms outperformed their global peers at using data in seven out of nine back-office tasks in the survey, ranging from producing risk management insights to generating financial disclosures and regulatory filings.

Firms in Australia are more likely than their global peers to see the potential of using GenAI. For example, about three-quarters of them (74 percent) say they see immediate value in using GenAI for defining investment objectives, versus just 68 percent of global respondents. Defining investment objectives is also the area where Australian firms believe data can have the biggest impact for improving investment returns.

The report goes on to reveal how firms in different regions are working towards a HDS. It provides insight into how leaders in HDS expect to boost investment returns, increase revenues and deliver significant cost savings for their organizations. It also shows where firms are prioritizing their technology investments to deliver an enduring competitive advantage.