AI Eyes Wealth Management

The conventional wisdom is that that AIs, or robo-advisors, will provide the necessary financial advisement for the retail client, which frees up the advisor to provide more of a human touch to high net worth clients. However, William Trout, senior analyst, wealth management, at industry research firm Celent, has written a new white paper on how AI is moving up the food chain. "What AI is trying to tackle in the wealth management space is cognitive overload and automate discovery," he said. "Humans have a finite ability to keep more than a few things in their minds at any one time. Certainly, a book of 200 clients will provide a challenge for advisors to balance the concerns and interests of all their clients."