Digitalisation of wealth management: The big benefits and challenges over the coming years

Report on managers' attitudes towards AI

Nearly 75% of wealth managers view artificial intelligence (AI) as an opportunity for their businesses but feel hindered by regulation from increasing their usage.

A report by Thomson Reuters entitled Digitalization of Wealth Management 2018 asked wealth managers how they were using data and technology within their businesses, and how they planned to do so over the next three years. The report surveyed 200 wealth managers at firms which manage at least $1bn in assets in North America, Europe and Asia.  It found the biggest factors for wealth managers included keeping up with new technology, integrating artificial intelligence into their processes and staying relevant for a new generation of investors.  Nearly three-quarters of respondents sai...