The Deloitte Center for Financial Services' 2023 investment management outlook report highlights the global investment management industry's pursuit of success through a virtuous cycle. The industry is facing challenges in terms of performance and M&A activity, as well as competition for assets. To address these challenges, firms must optimize their talent model, manage workplace changes, and strengthen their culture. Communication is also key to aligning employees with the organization's goals. The report concludes with an outlook for alpha, client experience, and operational excellence in the industry.