AI is no longer a ‘distant frontier’ for finance, says CFA Cyprus

Artificial intelligence is moving from the margins of finance into the daily machinery of investment management, raising new questions over opportunity, risk and investor trust, according to CFA Society Cyprus vice president Andreas Spyrides.

Ahead of the society’s upcoming webinar, titled “AI in Asset Management”, Spyrides said artificial intelligence is no longer “a distant frontier” for the investment management industry. 

“It is here, it is moving fast, and it is changing how portfolios are built, how risk is assessed, and how investment decisions get made,” he said. 

For finance professionals, he said the debate has already shifted, adding that the question is no longer whether AI will affect their practice, but “how to engage with it thoughtfully, critically, and with a clear sense of responsibility”. 

This, Spyrides said, is the conversation CFA Society Cyprus is bringing to its community through the webinar, which will take place on May 4, 2026, at 18.00 EEST. 

CFA Society Cyprus, he said, forms part of the global CFA Institute network, “the world’s largest association of investment professionals”. 

He said the society’s mission is to promote “the highest standards of ethics, education, and professional excellence in the investment profession”, while also serving the public interest by building integrity, competence and transparency in the financial industry. 

In practice, Spyrides said this means equipping members, including portfolio managers, risk professionals, analysts, regulators and advisors, with the knowledge and perspective needed to navigate a constantly changing industry. 

“When new technologies, instruments, and frameworks emerge, our role is to encourage informed, evidence-based engagement rather than uncritical enthusiasm or unjustified resistance,” he said. 

“That balance, frankly, has never been more important than it is today,” he added. 

According to Spyrides, the uptake of AI across the investment industry has been striking, with machine learning now being applied to factor models, natural language processing being used to mine earnings calls, and AI increasingly embedded in portfolio optimisation and trade execution. 

The technology, he said, has moved “from the research lab into the day-to-day infrastructure of investment management”, sometimes visibly and sometimes quietly. 

However, he warned that rapid adoption also brings risks. 

Spyrides said one of the most significant issues is the growing gap between what AI actually achieves and the exaggerated claims made by some managers and product providers. 

“AI washing”, he said, referring to the tendency to overstate or misrepresent the role of AI in an investment process, has emerged as “a real and growing concern” for allocators, regulators and end investors. 

As a result, he said, separating substantial AI integration from marketing narrative is fast becoming one of the more demanding due diligence tasks facing investment professionals. 

“This is not a niche issue,” Spyrides said. 

“It touches investor trust, fiduciary duty, and the integrity of capital markets, all of which are central to the CFA Institute Code of Ethics and Standards of Professional Conduct,” he added. 

“It deserves a serious, informed conversation,” he said. 

To lead that conversation, CFA Society Cyprus will welcome Joseph Simonian, whom Spyrides described as “a researcher and investor whose work has helped define serious thinking at the intersection of quantitative finance and artificial intelligence”. 

Simonian is the editor of ‘AI in Asset Management: Tools, Applications, and Frontiers’, a book bringing together leading researchers and practitioners to assess where AI in investing stands and where it is heading. 

He is also the author of the report ‘AI Washing: Signs, Symptoms, and Suggested Solutions for Investment Stakeholders’, which Spyrides described as “a timely look at one of the profession’s most pressing integrity challenges”. 

In addition, Simonian is a frequent contributor to the CFA Institute Research and Policy Center, which Spyrides said acts as a hub for research, policy and practical insights helping investment professionals navigate an increasingly complex industry landscape. 

He described Simonian as “a consistent and credible voice” in educating investment professionals on the appropriate use of AI, machine learning and quantitative tools in practice. 

The webinar, Spyrides said, will draw on both works to offer a grounded perspective on where AI is genuinely adding value in asset management, where its limitations are real and consequential, and how professionals can approach AI-driven products and strategies with “the kind of critical discernment the moment demands”. 

A question-and-answer session will follow, giving participants the opportunity to put their questions directly to Simonian. 

Spyrides said the event is open to CFA Society Cyprus members, CFA candidates and affiliated professionals across the region and beyond. 

It is designed, he added, for anyone who encounters AI in their professional life, whether they work in front office, risk, compliance or advisory. 

“Continuing education, in our view, is not simply a box to tick,” he said. 

“It is a genuine commitment to the clients, institutions, and markets we serve,” he added. 

Spyrides said events such as this form part of CFA Society Cyprus’ ongoing effort to bring “world-class thinking to Cyprus’s investment community” and ensure that its members are equipped to operate with confidence at the forefront of a rapidly evolving global industry. 

The webinar will take place on May 4, 2026, at 18.00 EEST, equivalent to 17.00 CET, 16.00 UK time, 11.00 ET and 08.00 PST, and the registrations are here.