89% of hedge fund providers plan to allocate more budget to outsourcing
Nearly nine in 10, or 89%, of hedge fund practitioners that currently in-source IT management are looking to allot more spending on outsourced services over the next two years.
According to a study by cybersecurity and managed IT provider Agio, the hedge fund industry could expect a jump in outsourcing and AI-driven technology services until 2024.
Agio explained that the main driver behind this shift is a need for heightened security (54%), followed by increased access to public cloud management and support expertise (46%) and more responsive end-user support (44%).
However, of those firms that are already outsourcing their IT management, 91% said that they are likely to change providers because their current vendor is unable to support a public cloud environment.
Agio CEO and Founder Bart McDonough said, “Viewing IT management and security operations through a single lens [are] essential to our vision of delivering secure, reliable, and resilient information systems.”
“We’ve made meaningful investments in AI-driven tools that empower our support agents to deliver better client service and improved system availability. That combination of human brilliance and predictive analytics is the future of managed services,” McDonough added.
