The future is coming, and it's coming fast. Before we even know what the next significant invention will be, our world could be overturned by something else entirely. But one thing we can count on is that technology will continue to grow and change, including digital investments. Our lives revolve around technology and the advancements it allows. We live through our computers, phones, tablets, and televisions.

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.

Wealth managers are confident that technology will be a key enabler in achieving efficiency, delivering highly personalized services, and enhancing customer experience, according to a new survey by Temenos and Forbes Insights. In a report titled The Next Generation Wealth Manager: Advancing Services and Personalization with Technology, Temenos and Forbes share findings of a survey of 305 high-level executives to understand the value of technology from the perspectives of both wealth managers and clients. Technologies including artificial intelligence (AI), machine learning, process automation and blockchain are considerably transforming the wealth management experience for advisors at private banks and the high net worth individuals (HNWIs) they serve. It is now imperative for the industry to leverage these technologies to provide customers with the level of customization and experience that's now requested. Wealth managers are confident that technology will play a key part in the future of their industry, with almost every wealth manager (92%) believing that digitalization of wealth management services is either a good thing or essential, and 84% of the executives surveyed stating that being adept at technology will be key to become a successful wealth manager in the future.

Sign up here for our New Managers publication and get each issue by email as Opalesque publishes them. A new series on technology providers that assist asset allocators. Blue Lion Research, a City of London Fintech company, is bringing in artificial intelligence (AI) to provide deeper analysis for investors and managers. For investors, the firm assesses operational criteria, clauses and features of legal documents, and provides comparison with peers and response to market conditions. And for managers, they evaluate differentiation and provide a better understanding of their fund universe. Their new product launched in August 2016 after two years of research and development.

I had a background in financial sales and portfolio strategy, but Fintech was on the rise, the RoboAdvisor was gaining momentum, and Bogleheads were taking over. They were consolidating to the point of monopoly and had determined that fee income and cross-sell ratio were more important than service and fiduciary responsibility to client wealth. "Too big to fail" became the justification for mass abuse in the financial system. We only have to look to Wells Fargo's recent crisis to see the results. The problem is systemic, encouraged, and will get worse before it gets better.