Wipro Limited has released a groundbreaking report titled “AI in Wealth Management: Navigating an Evolving Data-Driven Landscape,” highlighting the pivotal role of artificial intelligence (AI) in reshaping the wealth management sector. Based on a survey of 100 U.S. executives, the report underscores the need for strategic investments in technology infrastructure to harness AI’s full potential.
Key findings from the report reveal that the wealth management landscape is undergoing significant transformation, driven by AI innovations that enhance personalization and provide deeper market insights. In line with that promise, the survey points to a significant future uptick in AI investments, with IT budget allocations for AI likely to more than double—from 16 to 37 percent—over the next 3-5 years.
While all surveyed firms are adopting AI, only 44% are using it extensively. Those who are report notable advantages: 73% of extensive users experience a competitive edge, and 65% anticipate significant AI-driven enhancements in client relationship management in the coming years.
Overall, more than three-quarters of surveyed companies report improved decision-making with AI-driven predictive analytics, while 76 percent report increased operational efficiency. Meanwhile, more than half of the companies believe that AI would disrupt risk management, followed by research and analysis (45 percent).
