Artificial Intelligence In Wealth Management To Provide Hybrid Services

Artificial Intelligence (AI) refers to intelligent machines that work and react like humans. AI helps to deliver insights to complex client questions in real time through its virtual conversational interface between business and clients. AI enabled applications such as natural language generation (NLG) is closing the gap between data analysis and investment decisions, providing real-time insights through automated trading strategies. For instance, according to a survey in 2018 by Forbes, 34% of wealth management companies have currently deployed AI within their firms and around 99% plan on deploying AI within the next 3 years. Companies such as Wells Fargo and Bank of America have already deployed AI services to better serve clients.