Quest Software has shared an update.
Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
The company highlighted findings from a recent report produced in partnership with Raconteur on the use of artificial intelligence in financial services. According to the survey cited, 99% of organizations experienced financial losses tied to AI-related risks, underscoring the impact of weak data and governance foundations. Only 15% of financial services and insurance firms are reported to be building robust, trusted data foundations to support continuous innovation and faster AI deployment. Additionally, 63% of respondents lack sufficient data management practices to support AI effectively, and 60% of unsupported AI projects are projected to be abandoned by 2026.
For investors, the post points to a clear and growing pain point in the financial services sector: the gap between AI ambition and underlying data governance and management capabilities. Quest Software’s involvement in this research suggests it is positioning its offerings around data management, governance, and AI enablement for regulated industries such as financial services and insurance. If the company can capture demand from firms seeking to reduce AI-related losses and improve infrastructure, this could support revenue growth in data management and risk-oriented solutions. The widespread lack of robust data practices in financial services also indicates a sizable addressable market and potential for Quest Software to strengthen its competitive position as AI adoption accelerates and regulatory scrutiny increases.