AI & Automation in Asset Management

Discussion with Imran Khan

Imran Khan, founder of WhichAdmin? & AltBots.Tech, former executive with RBC Private Capital Services, JTC  and TMF, provides insight into how AI and automation are revolutionizing traditional alternative asset management & related services. His extensive experience spans global outsourcing, COEs, fund administration, and technology integration. His start-up firms are focused on AI’s potential to enhance knowledge sharing, data processing, risk management, and operational efficiency. In this detailed interview, Khan discusses key trends across administration, asset management, investor relations, due diligence, and the critical role of human-AI collaboration supported by end-to-end automation.

Evolving from Traditional Finance to AI and Automation

Khan’s journey from traditional finance to AI & Automation underscores how technology reshapes industries. Reflecting on his years in accounting and consulting, Khan shares, “”Thanks to platforms like Zoom, DocuSign, Monday, and Workday, outsourcing was able to thrive and adapt during the pandemic, keeping teams connected, workflows seamless, and projects on track”. This realization spurred him to create WhichAdmin, where his team advises firms on outsourcing, tech-stack enhancements in areas like investor onboarding, compliance, and data management. For Khan, AI’s real potential for outsourcing & administration lies in its power to streamline complex processes, creating efficiencies at every step.

Khan’s expertise spans developing tailored solutions that align technology with client needs, delivered through a mix of Automation, E-learning suites and tailored Knowledge-Bots. His firm’s projects often involve identifying tech-partners, managing outsourcing RFPs, and creating Knowledge-Botsto optimize firm operations. “This shift towards technology isn’t just about the tools; it’s about building a process-driven culture focused on continuous improvement, that in essence enables people to maximize their potential”, he asserts.

Khan’s career pivot from finance to tech came from a desire to integrate technology into daily operations, minimizing manual tasks and increasing work quality. By blending traditional finance knowledge with tech insight, he champions WhichAdmin’s approach to leveraging automation. Their philosophy revolves around creating flexible systems that quickly adapt to market conditions, helping firms remain resilient as they expand. “Adoption is key”, he emphasizes, “and aligning technology with teams’ needs ensures seamless integration across all business functions”.

Enhancing Asset Allocation and Investment Strategy with AI

AI’s capacity to analyze massive datasets to identify patterns and predict performance offers unique advantages for asset managers. For Khan, AI’s ability to provide in-depth analysis surpasses traditional data assessment methods: “AI can act as an Oracle, analyzing huge volumes of data to offer predictive insights, making decision-making faster and more accurate”. This predictive power allows managers to adjust strategies based on real-time data, aligning closely with both current and anticipated market trends. Here the key is training the AI Algo with your own unique take on whats important for the model.  

In asset allocation, AI’s advanced algorithms capture trends that may have previously taken analysts days to uncover. By identifying potential market shifts and emerging investment opportunities, AI helps managers react proactively rather than reactively. This capacity not only saves time but enhances portfolio resilience, giving managers a significant edge over traditional methodologies. “AI simplifies complex market data, making it accessible and actionable, transforming how we perceive and interact with data”, Khan explains.

AI also allows asset managers to adopt a more forward-thinking approach, anticipating risks and optimizing portfolios to exceed performance targets. By integrating AI-based tools into decision-making, firms can not only improve their investment outcomes but also streamline research, minimize bias, and enhance accuracy in forecasting. For Khan, AI marks a shift from traditional, resource-intensive research towards data-driven, efficient strategies that maximize returns and minimize risks. “Using AI to support asset allocation is only the beginning of what’s possible, leaders in this area are just warming-up”, he adds.

Real-Time Portfolio Management: AI for Continuous Improvement

Khan describes how AI supports real-time data-based adjustments in asset portfolios, helping managers respond effectively to market changes. “Instead of waiting for human insights to materialize, AI can monitor and deliver insights continuously, enabling managers to act with confidence with the right predictive-analysis to-hand”, he notes. This capability is crucial in today’s volatile markets, where delays can mean missed opportunities. AI assists by running scenario analyses, giving managers a preview of potential outcomes based on various strategic adjustments.

Moreover, AI not only tracks performance but also predicts reactions to future market changes, allowing managers to adjust their strategies accordingly. This level of responsiveness was once impossible without a full team of analysts, but AI makes it scalable. By providing insights into potential risks and returns, AI tools enable managers to maintain balance in their portfolios while remaining agile. Khan explains, “The agility AI brings to portfolio management offers an unmatched advantage, allowing managers to stay one step ahead of the competition”.

While AI enhances responsiveness, it’s the human oversight that ultimately ensures decisions align with the firm’s long-term objectives. Khan advocates for a hybrid approach, where AI handles routine monitoring, and humans focus on high-impact strategic decisions. This synergy, he believes, not only boosts operational efficiency but also reinforces the quality and reliability of investment decisions. “The key in Alternative Asset Management is to leverage AI where it adds value and to let human expertise drive the final call”, Khan concludes.

Accelerating Transaction Closures and Documentation

Complex transaction closures are time-intensive, but AI and automation streamline them significantly. According to Khan, legal documentation for transactions that once took weeks can now be completed in days. “AI tools can compare documents, detect discrepancies, and confirm compliance in minutes, saving valuable time and resources”, he explains. This efficiency allows firms to finalize transactions faster, reducing the risk of delays and costly errors.

For legal compliance, AI also simplifies processes that once required manual oversight, such as signature verification, document archiving, and compliance checks. By integrating tools like DocuSign with AI-enabled checks, firms can ensure a higher level of accuracy and accountability throughout the transaction process. “The security and convenience of e-signatures eliminates a significant bottleneck, allowing transactions to proceed smoothly and securely”, Khan observes.

As AI-driven processes become more integrated, firms find it easier to handle high transaction volumes without scaling up their teams. This scalability has transformed transaction management, making it feasible to process complex documents across multiple jurisdictions without sacrificing quality or security. “Efficiently handling transactions benefits clients and teams alike, as it frees up resources for strategic, higher-value work”, Khan adds.

Enhancing Investor Relations with AI-Powered Communication

For Khan, AI is redefining investor relations, enabling firms to offer a responsive, personalized experience. He shares, “The modern investor expects immediate, accurate responses, delivered electronically and AI-driven chatbots enable firms to deliver an enhanced UX”. By streamlining investor interactions, AI improves transparency and strengthens trust, offering self-service options and real-time updates that investors increasingly expect in today’s digital world.

AI also supports investors by tailoring interactions based on past queries and preferences, making each touchpoint relevant and valuable. Beyond basic inquiries, AI-driven insights allow firms to provide highly customized reports, enhancing communication quality and enabling investors to make informed decisions. “The customization that AI offers brings a new level of personalization and focus, increasing the overall comfort level of the investor.”, Khan explains.

However, he stresses that AI supplements rather than replaces human interactions. Major investors value personal consultations, and Khan’s team can help ensure that AI serves as a tool to improve service.. “The role of AI in investor relations is to empower relationship managers, not replace them. Our aim is to make each interaction richer by leveraging AI’s responsiveness and efficiency, allowing the fundraising teams to focus on trends, segments, sectors and scale”, he concludes.

Streamlining Due Diligence with AI for Informed Decision-Making

Due diligence, traditionally a time & labor intensive task, is becoming faster and more thorough with AI. For Khan, AI’s ability to analyze large volumes of data enables a deeper, more nuanced understanding of potential investments. He states, “By handling initial assessments, AI allows analysts to focus on in-depth research, providing insights that improve investment quality. By teaching AI their unique approach, firms are able to integrate the human element, which forms their secret sauce, into super-systems”. AI-driven due diligence tools streamline the process, ensuring no critical detail goes unnoticed and things like trends, patterns, insights stand-out more clearly.

Through prompt engineering, firms can instruct AI to focus on specific risk factors, industry benchmarks, or compliance criteria, tailoring its analysis to their unique needs. Khan describes AI as a collaborative partner: “It’s about asking the right questions and iteratively refining prompts to get the most useful information”. This interaction enhances due diligence, bringing insights from multiple sources and presenting them in a format that is easy to interpret and act upon.

AI also aids in detecting risks early, giving firms an edge in competitive markets. By evaluating financial health, operational stability, and potential regulatory issues, AI provides a holistic view of potential investments. “AI doesn’t replace human judgment but augments it, allowing us to make more informed and confident investment decisions”, Khan concludes.

Strategic Advice for AI Implementation

Khan’s advice to C-level executives is to view AI as a strategic advantage, especially in competitive sectors like asset management and outsourced services. “Embrace AI and automation boldly—it’s essential for improving every facet of operations”, he advises. For Khan, successful AI adoption begins with identifying quality data sources, as they form the foundation for reliable AI outputs. “Trustworthy data is the lifeblood of AI systems, that connected with intuitive processes, makes a huge difference”, he adds, emphasizing that firms should prioritize data quality from the outset.

He also encourages leaders to prepare for increased competition in techtalent, noting that even traditional finance firms now compete with tech giants for skilled employees in areas such as AI and Automation. “Hiring strategies must adapt to attract and retain top tech talent in a competitive market”, Khan notes, underscoring the need for forward-thinking workforce strategies.