By 2025, artificial intelligence (AI) technology will reduce the number of employees in asset management globally by 90,000, according to research. A new report authored by research and consulting firm, Opimas, found employees in capital markets globally will decrease by 230,000 and the asset management industry will likely shrink the most as a result of AI implementation. "AI will intensify clients' disenchantment with traditional asset managers and lead them increasingly to cheaper and automated strategies," it said. The report explained AI technology, including robotic process automation, machine learning and cognitive analytics, will significantly reduce headcounts across financial services firms. "Securities services firms, given the repetitive nature of many tasks conducted by them, are ideal candidates for a contraction of staff due to the rollout of AI technologies," it added.