Butterwire CEO in Funds Europe supplement about AI
Raphael Fiorentino, CEO of UK-based fintech Butterwire, is a believer in augmented intelligence – the use of AI to complement traditional active management rather than replace it. "For decades, the industry’s pricing model has not fundamentally changed. All the pain is still passed on to the investors. They are frustrated and the reaction is to get rid of the humans. I disagree and think we should use the machines to help humans raise their game. We should strive to engineer investment knowledge and reduce fees," says Fiorentino. "It is not about mining more historical data, it should be about gaining more insight."