Onawa Promise Lacewell, PhD
Director, Consulting
Onawa Promise Lacewell has a research focus on the impact of disruptive technologies on the financial services sector and on the client-facing technology that wealth managers use to support the digital experience of UHNW and HNW end clients. Specifically, she is interested in how wealth managers use digital portals and mobile apps to support the client experience of UHNW and HNW end clients. Onawa holds a PhD from the University of Missouri.
Recent research assignments and publications include the following:
- Behind the Login of Wealth Management Client Portals
- Benchmarking of Value-Added Services for UHNW clients
- The Rising Popularity of Family Offices
- AI Throughout the Wealth Management Lifecycle
- UHNW Benchmarking
This whitepaper looks at the synthetic data trend, examines the use cases for wealth and asset managers, assesses the benefits versus drawbacks, and offers Cutter's take on whether this is a trend worth watching.
The newest type of synthetic data is generated using AI-based methods. This approach to data generation reportedly offers advantages over data produced by more entrenched methods - namely, in the areas of privacy, efficiency, and scalability. These benefits are driving the current interest in synthetic data among financial services industry firms. Our research on AI-generated synthetic data shows that concrete use cases for this data exist for wealth and asset management organizations. However, the use cases are narrower than much of the current industry hype would have us believe.