It was an issue Cayman’s Alternative Investment Summit 2019 tackled on the first morning of its two-day conference on Thursday (7 February).
And some of the answers could be found with a selfie drone and a teenage prayer for longer battery life…
With the pace of change in the digital sphere continuing to dictate the parameters of the future of the alternatives industry, the CAIS19 conference chair signposted the three prongs he believes will continue to shape the space in the future
KPMG partner and conference Chair Tony Cowell said investors were facing turbulent times. But opportunities still exist, he said because of globalisation.
“It’s actually all about data, global data… unlike the old ways of investing, it’s not about where you are, it’s about who you are in terms of the investment product that you buy,” Mr. Cowell told the assembled delegation at the Kimpton Seafire.
Next up, he outlined the possibilities offered by digitisation, even debuting a selfie drone to applause from conference delegates.
“Digitisation will become the north star of our industry as organic growth shifts into higher gear and makes our industry unrecognisable in the future,” Mr. Cowell predicted.
Mr. Cowell stated the alternatives industry had no choice but to embrace the digital revolution.
“The next generation after this one will be the most connected in human history,” he said.
He pointed to “millennialisation,”saying the industry is pushing its focus towards this demographic.
He even offered a teenager’s prayer to illustrate the priorities of a hyper-connected generation:
“Der God, please make my iPad never run out of batteries,” he quoted.
Hosting the alternatives summit in Cayman, perhaps a sign we are keeping pace in the global, digital, millennial world Mr. Cowell describes.
The theme of this year’s CAIS19 summit is “Tech-Tonic Shift.”
The conference runs at the Kimpton until Friday (8 February).