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On April 7, 2026, the Netherlands Authority for the Financial Markets (AFM) published a report examining artificial intelligence (AI) usage in the Dutch asset management sector. The report, titled "AI in the Dutch Asset Management Sector: Usage Grows, Risks Grow With It," investigates how AI is being deployed, sector developments, and associated risks. The AFM's findings reveal that AI adoption is accelerating across the sector, with some asset managers using AI for analysis, price forecasting, and trading strategy enhancement. However, organisational investment and infrastructure have not kept pace with usage growth. While a majority of institutions expect expenditure to increase in coming years to remain competitive, many currently allocate minimal or no budget for AI development. This creates a risk that institutions may become dependent on systems they cannot fully understand or control. The report identifies opportunities in operational efficiency, data processing improvements, and enhanced internal processes. Long-term benefits may include better portfolio selection and deeper market analysis, provided transparency towards investors regarding AI's role is maintained. However, the AFM identifies significant risks including poor data quality, algorithmic bias, limited explainability, and dependency on a limited number of technology providers. The report notes that many institutions are unprepared for these challenges: approximately one quarter lack policies governing employee AI usage, while more than two thirds lack specific policies for generative AI applications. Additionally, more than half lack ethics handbooks or codes of conduct addressing AI specifically. The AFM calls on the sector to assess its readiness for AI implementation by establishing clear usage policies, ensuring data quality, conducting thorough vendor assessments, and ensuring staff work with explainable and controllable models.