Scotland’s investment management sector is a key part of its successful finance industry. In investment, Edinburgh remains the second-largest centre in the country after London, managing 5% of the UK total.

But businesses that operate digitally are at the sharp end of AI impact.  How well are Scotland’s investment firms adapting to the new world of artificial intelligence?

A recent seminar in Edinburgh, attended by more than 100 investment professionals, shed some light on the rapid change that is happening.

The event, organised by CFA UK,  reflects well on the sector. Scotland’s investment  community is traditionally close-knit and professional, with its members willing to share ideas and practice for the benefit of the industry and its clients. Few financial centres show as much cohesion.

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This matters for Scotland, and indeed the UK, as international competition increases and the London stockmarket loses relative importance.

Across all financial and related professional services, which include wealth management, Scotland now has 157,000 jobs and £17.7 billion of annual output, roughly a tenth of the Scottish economy. Over  half of the assets managed in the UK now belong to overseas clients, so investment management earns export income as well as providing a service.

The discussion showed that some AI benefits  are already being captured by using AI for modest, practical tasks. Screening long lists of companies to summarise financials and ratios is now simple, allowing more to be reviewed by fund managers. AI can readily capture........

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