Steven Strange

There is a quiet revolution underway in aged care, and most boards have not yet decided whether they are leading it or being led by it. Artificial intelligence has arrived in our clinical, medication, rostering, payroll and other systems. The systems can summarise progress notes, draft incident reports, assist with triaging residents and sometimes even increasingly recommend decisions about the people in our care. The technology can be very useful.

Key Takeaways The benefits of generative AI are seen as outweighing the costs. The technology is expected to transform the industry with enhanced decision-making and returns. Operational hurdles are high, and infrastructure will need to be modernized. Skill shortages will also need to be addressed for the technology to be successful. Although a hot topic for some time, it may be years before artificial intelligence (AI) in asset management reaches its full potential.

Key Takeaways Using technology can help sustain profitability. Strategic planning is required for the effective use of AI. Challenges include data input in AI models Artificial intelligence (AI) is revolutionizing the asset management sector, driving innovation and reshaping traditional approaches. However, the critical question is how asset managers can prepare for this shift.