Allianz Global Investors will be hosting its first hackathon in London later this week.

The investment manager’s in-house specialists and artificial intelligence (AI) experts from selected global startups will work together to develop optimisation approaches.

In front of an audience of around 100 participants, startups will then present the results to a panel of senior staff from across Allianz Global Investors and Allianz Asset Management, as well as an external venture capitalist.

The most convincing solution from each of the three use cases will be implemented as a prototype in 2019 together with the winning company.

Andreas Utermann, chief executive of AllianzGI, said that data has been at the heart of the active investment processes for decades, but now digitalisation is changing the investment management business like never before.

“We believe AI will be a transformative technology, and can play a vital role in helping us unlock and share value with our clients,” he continued, adding: “Hosting this hackathon is an important, exciting milestone in our digital transformation strategy, ensuring that as an innovative, active asset manager, we are constantly challenging the way we make investment decisions.”

Thorsten Heymann, global head of strategy at Allianz Global Investors, commented: “Machines will never completely replace the skills and experience of investment experts, but with the right data and processes they can help improve investment success.

“Innovative hybrid solutions, in particular, have the potential to create added value for clients with artificial intelligence – with the right use of AI, Big Data and Alternative Data, we can further expand the fundamental basis of investment decisions.”

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