The vast majority of asset and wealth managers have set out plans to tap into the potential artificial intelligence (AI) brings to bolster their growth over the next few years, a PwC report has found.
In PwC's 2024 Asset & Wealth Management Report, published today (19 November), the consultancy found that wealth managers looking to adopt AI are expected to benefit from a 12% boost to their revenues by 2028. The report also found that 81% of the 264 asset managers and 257 institutional investors polled from around the world are looking to enter strategic partnerships, consolidation or M&A deals to enhance their technological capabilities. There was also the intention to build an "extended tech ecosystem" among the participants to the study, as they looked to innovate their offerings...
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