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AI in wealth management: Built to scale

December 2, 2020

RESEARCH REPORT

In brief

Moving from experimental to exponential

Most wealth managers see a real financial opportunity to move the financial needle by adopting AI over the next two to three years.

The AI strategic imperative

Today: Proving the value and building a foundation

Our experience shows it's not atypical for a single use case to generate a 20%+ uplift, growing both existing clients as well as revenue from new clients.

Tomorrow: Accelerating the AI journey

84%

of our survey participants agree that AI will transform the industry in the next five years.

The future: A digital platform mindset

1. Take honest stock

Where are you versus the industry in vision and value? Have you completed the basics? Are you getting the right sponsorship and moving fast enough?

2. Think about your firm's strategy

What are you looking to accomplish? Take stock of what AI can deliver in this space―now and later.

3. Determine two "no regret" moves

Find two actions you can take in the next 30 days, uniquely tailored to your strategy and maturity, with an eye towards demonstratable results.

About the Authors

Michael Spellacy

Senior Managing Director – Global Capital Markets Lead


Scott Reddel

Managing Director – Wealth Management Lead, North America


Kimberly Richards

Managing Director – Banking and Capital Markets Strategy


Darrin Williams

Managing Director – Applied Intelligence


Matthew Haggerty

Manager – Research, High Tech Lead


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