Most wealth and asset management executives in our study believe that an AI revolution is underway that will be critical for the future of their businesses. AI’s new abilities to act and think like humans — and perform tasks autonomously — will galvanize all parts of the value chain for investment firms. Client interaction will become more effective, as AI makes experiences more efficient, personalized, and seamless. Advisors will do a far better job at optimizing investment portfolios and generating greater alpha for clients from AI-enhanced data analysis. And AI’s benefits will flow throughout the organization as it relieves employees of repetitive tasks, allowing them to handle a higher order of work.
Wealth and asset management firms are picking up the pace on AI adoption across their organizations.
Back-office functions—such as code development, business processes, and custody services—have been prime candidates for early AI deployment because of the enormous efficiency and productivity gains they can yield.
Investment providers are also harnessing AI in the middle office. Most are using AI to automate compliance checks to quickly identify any violations. At the same time, they are boosting data security and privacy by using AI to detect anomalies in real-time and respond immediately to potential threats. They are using these same AI capabilities to identify and head off fraudulent transactions.
