Almost half of high net worth clients believe artificial intelligence would "mostly replace" humans on portfolio management over the next five years, according to a new report by Temenos and Forbes Insight.
The report, entitled AI and the modern wealth manager, surveyed 310 global wealth managers and high-net-worth individuals, 28% of whom came from Europe. Some 45% of clients thought AI would replace humans on portfolio management in the next five years, 35% thought it would replace humans on investment advice and 29% believed client communication would be done by AI. Just 7% of clients said they expected portfolio management would remain carried out by humans in five years time. Kevin Okell: Smarter than we look Overall, clients tended to be more optimistic than advisers on the ...
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