Jan 21, 2020

This research discusses current trends in AI and the adoption for products and services spanning the wealth management lifecycle and provides practical use cases illustrating best practice implementations in wealth management.

Artificial Intelligence (AI) is everywhere lately. While the popular discussion surrounding AI often takes a sci-fi twist, industry applications are more solidly grounded, and AI is poised to change processes we now take for granted in the financial services industry, and in wealth management specifically. Practical AI applications are steadily finding their way into every part of the wealth management lifecycle. While the technology itself may seem new, years of data management and processing, yielding ever more sophisticated big data models, have set the stage for current AI applications. Intelligent algorithms are the natural progression of nearly a decade of technological innovation. AI apps are the basis for an increasing number of innovative use cases across the wealth management lifecycle, from personalized targeting and “smarter,” data-driven KYC checks to optimizing portfolio allocation and client communications.

Vendors reviewed include AlphaSense, Capacity, IBM, Kasisto, MioTech, Personetics, Sentieo, and Thinknum.

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