Artificial intelligence has found its way into every industry from children’s toys to autonomous cars to interior design — and the wealth management world is not immune to this phenomenon. In fact, AI 1.0 has long been part of the investment world in the guise of robo-advisers and automated office processes. Now we are seeing a large majority of wealth managers moving on from mere automation to incorporating higher-level AI to enhance research, portfolio construction, client service and compliance.
According to Mercer Investments’ global manager survey, AI integration in investment management 2024, 91 percent of managers are currently or planning to use AI within their investment strategy or asset-class research. It’s very likely the “currently use” level has increased significantly since that survey was completed.
Although most firms now claim to use AI, the level of implementation varies widely. Many of them have simply automated processes. Howev
