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The WEALTHTECH Book
book

The WEALTHTECH Book

by Susanne Chishti, Thomas Puschmann
July 2018
Beginner
336 pages
11h 58m
English
Wiley
Content preview from The WEALTHTECH Book

Digital Super Powers – The Role of Artificial Intelligence in Wealth Management

By Richard Peers

Industry Lead Retail, Private, Wealth Banking, Microsoft

According to the 2016 Capgemini WorldWealth report, 56% of net income is at risk due to client attrition from lack of digital capabilities, with over two-thirds of high-net-worth individuals (HNWIs) now looking for automated advisory services. When bots and wealth managers work together, they better serve clients’ needs, improve the experience and increase loyalty. And because AI scales to meet demand virtually without limit, employees can spend more of their time on higher-priority client interactions, resulting in both cost savings and service quality benefits.1

While popular culture has defined AI as artificial intelligence, we believe the term “augmented intelligence” is far more accurate. The combination of machine learning, deep learning technology, bots and intelligent agents on a powerful cloud computing platform has ushered in a new era of computing. This is defined not so much by what machines can do independently or as human substitutes, but rather by how they can amplify human will and action as tireless auxiliaries in countless arenas.

We must recognize this new kind of computing both for what it is and what it is not.

  • AI is not merely a new tool. It’s a radical shift that makes technology what it always should have been – ubiquitous yet invisible and intuitive to use.
  • AI is not about replacing humans. It’s about ...
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Publisher Resources

ISBN: 9781119362159Purchase book