AI has moved to the top of the agenda for large asset owners, according to new findings from the Thinking Ahead Institute and MSCI Institute. The 2026 technology peer study surveyed 20 asset owners responsible for more than US$5trn in combined assets.
Around two-thirds (67%) of respondents identified AI as a leading strategic priority, with technology’s contribution to investment outcomes expected to increase from 17% today to 30% over the next three to five years.
AI ranked ahead of other long‑running concerns: adapting to higher inflation (named by 44% of respondents), liquidity pressures (33%) and the expanding role of private markets (28%).
The asset owners said AI, data platforms and analytics are moving from support functions into the core of investment research, portfolio monitoring and decision-making.
Yet many say their organisations lack the governance, data foundations and operating models needed to support that shift, while acknowledging that human judgement and accountability will remain essential.
Governance is one area where progress appears slow. Only a quarter of respondents have made AI a standing item for their boards or investment committees, while 60% review it only occasionally. The report noted oversight will need to evolve into clearer strategic ownership.
Data quality and standardisation were identified as the biggest practical obstacles. Three‑quarters of respondents cited data issues as a constraint on AI adoption, with legacy systems and siloed processes already stretching resources.
Roger Urwin, co-founder of the Thinking Ahead Institute, said asset owners are still at an early stage of the AI adoption curve “but there is no question about the increasingly important role AI will play in the future”.
“AI is becoming an organisational story rather than a technology story,” he said.
“The opportunity is immense, but so is the challenge. Asset owners are trying to shape their AI future at the very moment AI is reshaping theirs.”
As such, the report set out areas for asset owners to prioritise as they adapt to rapid technology change, including ensuring clear ownership of an AI strategy, risks and accountabilities, alongside building organisation-wide understanding of the technology and how it can bridge into investment.
The Thinking Ahead Institute and MSCI Institute also emphasised the importance of redesigning workflows, so AI supports decision-making while preserving human judgement, while preparing for AI to become a significant ongoing investment with defined measures of value.
Linda-Eling Lee, founding director and head of the MSCI Institute, said: “AI gives asset owners an opportunity to rethink not just how they use technology but the investment process itself.
“Data will be central to that transition, but so will human judgement, governance and the ability to connect investment and technology teams. The opportunity lies in bringing these elements together to support better investment decisions and stronger long-term outcomes.”