Machine Learning business concept.
Photo credit: Galeanu Mihai

The CFA Institute launched a new certificate aimed at helping investment professionals understand the application of data science in the investment process.

The Data Science for Investment Professionals Certificate is designed to provide a comprehensive understanding of artificial intelligence (AI) and machine learning, with a particular focus on their application in the investment industry. 

According to the CFA Institute, the new certificate will also equip investment professionals with the language to be able to explain and translate machine-learning concepts and their application to real-world investment problems. 

“As asset managers continue to adapt to the fast-changing dynamics of the AI, big data, and machine-learning environment, everyone in an investment role will need to understand how they can utilize data science techniques,” said Richard Fernand, head of certificate management at CFA Institute.

According to a recent report, almost two thirds of investment professionals (64%) have expressed interest in learning more about AI and machine learning, however, only 3% say they are already proficient in these concepts. 

The certificate requires no prior data science knowledge and is suitable for individuals from a variety of backgrounds. To become certified, participants must complete five interactive courses, totaling approximately 100 hours followed by a final 90-minute assessment. Participants can work through the course in their own time.

Last October, the CFA Institute also released a new framework that aims to help professionals integrate responsible AI into investment management as they design and deploy AI tools, outlining steps to take and questions to ask along the way.