GenAI Not Good For Fund Accounting, TA: SS&C Exec
Where does GenAI fit in financial services? Industry leaders are increasingly leaning toward a shared understanding: while the technology opens doors for efficiency, insights, and workflow acceleration, it falls short when absolute precision and repeatability are required.
David Goldstein, STP’s Director of Fund Services, shared his perspective on Ignites:
“People often conflate GenAI with automation technology, but there are important differences, said David Goldstein, director of product, fund services at STP Investment
Services. Fund administrators tend to rely on automation rather than AI, since it’s risky to assume an AI model will consistently apply formulas accurately. “You can have a fund where one investor has different terms than another, I don’t think we want to rely on AI to fully grasp that concept and to do those calculations 100% correctly,” Goldstein said. For tasks that require exact answers, STP uses automation technology, which inputs data into specific equations and produces predictable, repeatable results, Goldstein said.”
Read the full article on Ignites.
