Artificial intelligence can be used in the investment management industry for several back-office functions, including monitoring trader behavior and improving cybersecurity defenses. Employing AI for these purposes does not come without challenges, particularly for smaller entities. This article explores how AI can be used, how to determine what functions to automate, obstacles to AI implementation and whether humans are still needed in the process. Subsequent articles will analyze government guidance on AI, best practices for managing third-party AI service providers and strategies for ensuring the privacy of customer data. See “Understanding the Intersection of Law and Artificial Intelligence” (May 30, 2018).