Wealth Management Firms Expected to More Than Double AI Budgets: Wipro Survey
Wipro has released a report revealing that wealth management firms plan to more than double their AI budget allocation from 16% to 37% in the next 3-5 years. Based on a survey of 100 U.S. executives, the study shows that while all firms have begun adopting AI, only 44% use it extensively. Among extensive users, 73% report significant competitive advantages.
Key findings show that 77% of firms report improved decision-making with AI-driven analytics, and 76% note operational efficiency improvements. Risk management (53%) and research and analysis (45%) are the main areas disrupted by AI. However, challenges persist, with 62% of firms citing unclear regulatory guidelines and 68% prioritizing AI training and recruitment to address the skills gap.
Wipro ha pubblicato un rapporto che rivela che le società di gestione patrimoniale pianificano di raddoppiare la loro assegnazione di budget per l'IA dal 16% al 37% nei prossimi 3-5 anni. Basato su un sondaggio condotto su 100 dirigenti statunitensi, lo studio mostra che, sebbene tutte le aziende abbiano iniziato ad adottare l'IA, solo il 44% la utilizza in modo estensivo. Tra gli utenti estensivi, il 73% riporta vantaggi competitivi significativi.
I risultati chiave mostrano che il 77% delle aziende segnala un miglioramento nel processo decisionale grazie ad analisi guidate dall'IA, e il 76% nota miglioramenti nell'efficienza operativa. La gestione del rischio (53%) e la ricerca e analisi (45%) sono le principali aree disturbate dall'IA. Tuttavia, persistono delle sfide, con il 62% delle aziende che cita linee guida normative poco chiare e il 68% che dà priorità alla formazione e al reclutamento in IA per colmare il divario di competenze.
Wipro ha lanzado un informe que revela que las empresas de gestión de patrimonio planean más que duplicar su asignación de presupuesto para IA del 16% al 37% en los próximos 3-5 años. Basado en una encuesta a 100 ejecutivos de EE.UU., el estudio muestra que, aunque todas las empresas han comenzado a adoptar IA, solo el 44% la utiliza de manera extensa. Entre los usuarios extensivos, el 73% reporta ventajas competitivas significativas.
Los hallazgos clave muestran que el 77% de las empresas informan una mejora en la toma de decisiones gracias a análisis impulsados por IA, y el 76% nota mejoras en la eficiencia operativa. La gestión de riesgos (53%) y la investigación y análisis (45%) son las principales áreas interrumpidas por IA. Sin embargo, persisten los desafíos, con el 62% de las empresas citando directrices regulatorias poco claras y el 68% priorizando la capacitación y el reclutamiento en IA para abordar la brecha de habilidades.
Wipro는 자산 관리 회사들이 향후 3-5년 동안 AI 예산 할당을 16%에서 37%로 두 배 이상 늘릴 계획이라는 보고서를 발표했습니다. 미국의 100명의 경영진을 대상으로 한 설문조사에 따르면, 모든 회사가 AI를 채택하기 시작했지만, 오직 44%만이 이를 폭넓게 사용하고 있습니다. 광범위한 사용자 중 73%는 상당한 경쟁 우위를 보고하고 있습니다.
주요 발견은 77%의 회사가 AI 기반 분석 덕분에 의사 결정이 개선되었다고 보고하고, 76%는 운영 효율성의 향상을 언급하고 있습니다. 위험 관리 (53%)와 연구 및 분석 (45%)이 AI로 인해 disrupt된 주요 영역입니다. 그러나 62%의 회사가 불명확한 규제 가이드라인을 언급하고, 68%가 기술 격차를 해소하기 위해 AI 교육 및 채용에 우선 순위를 두고 있어 여전히 도전 과제가 남아 있습니다.
Wipro a publié un rapport révélant que les entreprises de gestion de patrimoine prévoient de plus que doubler leur allocation budgétaire pour l'IA de 16% à 37% au cours des 3 à 5 prochaines années. Basée sur une enquête auprès de 100 dirigeants américains, l'étude montre que, bien que toutes les entreprises aient commencé à adopter l'IA, seulement 44% l'utilisent largement. Parmi les utilisateurs étendus, 73% rapportent des avantages concurrentiels significatifs.
Les résultats clés montrent que 77% des entreprises rapportent une amélioration de la prise de décision grâce à des analyses alimentées par l'IA, et 76% notent des améliorations de l'efficacité opérationnelle. La gestion des risques (53%) et la recherche et l'analyse (45%) sont les principaux domaines perturbés par l'IA. Cependant, des défis persistent, 62% des entreprises citant des lignes directrices réglementaires peu claires et 68% priorisant la formation et le recrutement en IA pour combler le fossé des compétences.
Wipro hat einen Bericht veröffentlicht, der zeigt, dass Vermögensverwaltungsgesellschaften planen, ihren AI-Budgetanteil in den nächsten 3-5 Jahren von 16% auf 37% mehr als zu verdoppeln. Basierend auf einer Umfrage unter 100 US-Führungskräften zeigt die Studie, dass alle Firmen begonnen haben, AI zu übernehmen, aber nur 44% sie umfassend nutzen. Unter den umfangreichen Nutzern berichten 73% von erheblichen Wettbewerbsvorteilen.
Die wichtigsten Ergebnisse zeigen, dass 77% der Firmen eine verbesserte Entscheidungsfindung durch KI-gesteuerte Analysen berichten und 76% eine Verbesserung der betrieblichen Effizienz feststellen. Risikomanagement (53%) und Forschung und Analyse (45%) sind die Hauptbereiche, die durch AI gestört werden. Dennoch bestehen Herausforderungen, da 62% der Firmen unklare regulatorische Richtlinien anführen und 68% AI-Training und Rekrutierung priorisieren, um die Qualifikationslücke zu schließen.
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AI budgets in wealth management to surge from
According to the report, the wealth management landscape is experiencing a profound metamorphosis, as AI-driven innovation promises to deliver higher levels of personalization and deeper customer and market insights. In line with that promise, the survey points to a significant future uptick in AI investments, with IT budget allocations for AI expected to more than double—from 16 to 37 percent—within the next 3-5 years.
All surveyed firms indicate that they have started adopting AI in different parts of their operations. However, less than half (44 percent) say they are using AI extensively. That said, these extensive users report tangible benefits, with 73 percent experiencing significant competitive advantage because of AI adoption. These extensive users also lead the pack in leveraging AI to enhance client engagement, with 65 percent expecting significant AI-driven changes in client relationship management over the next 1-2 years.
Overall, more than three quarters (77 percent) of surveyed firms report improved decision-making with AI-driven predictive analytics and 76 percent note overall operational efficiency improvements. Meanwhile, risk management is one of the key areas disrupted by AI, according to more than half (53 percent) of the firms, followed by research and analysis (45 percent).
“These findings suggest that AI offers wealth management firms a chance to innovate, stand out, and succeed in an increasingly competitive market,” said Ritesh Talapatra, Vice President and Sector Head for Capital Markets and Insurance, Wipro Limited. “This technological shift comes at a time when the industry faces several challenges, including pressures on Assets Under Management (AUM), fluctuating revenues, increasing operational costs, and rising client expectations. In this context, AI emerges as a powerful tool to deliver customized wealth management guidance, optimized client satisfaction, and maximized financial returns. At Wipro, we are committed to bringing these solutions to our wealth management clients to fuel their future growth.”
The report also underscores the pivotal role of advisors in effectively integrating AI into financial advice to meet the diverse and evolving needs of investors. As such, one key challenge for organizations is the skills gap in AI. To meet this challenge, 68 percent of organizations say they are prioritizing training and recruitment in of employees in AI.
Further, the report shines a light on the challenges related to the regulatory environment. Almost two-thirds (62 percent) of firms identify the absence of clear regulatory guidelines as a top challenge in AI adoption. Additionally, majority of firms highlight regulatory and compliance challenges (55 percent) and biased and discriminatory outputs (54 percent) as significant barriers to AI adoption.
“AI is rapidly moving from a peripheral technology to a core component of wealth management operations,” continued Talapatra, Wipro Limited. “As firms embrace AI, regulatory scrutiny around AI has intensified significantly. Ensuring AI implementations are not only innovative but also fully compliant with the latest regulatory standards will be a growing challenge for companies. Ensuring that AI systems are explainable and trustworthy is essential for maintaining both regulatory compliance and client confidence.”
In closing, the report highlights that successful integration of AI goes beyond mere technological implementation. It recommends firms to leverage AI to fundamentally reimagine how wealth management services are delivered and experienced and to cultivate a culture that not only accepts AI technology, but actively embraces change and innovation.
For more information and access to the full report, click here
About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading technology services and consulting company focused on building innovative solutions that address clients’ most complex digital transformation needs. Leveraging our holistic portfolio of capabilities in consulting, design, engineering, and operations, we help clients realize their boldest ambitions and build future-ready, sustainable businesses. With over 230,000 employees and business partners across 65 countries, we deliver on the promise of helping our clients, colleagues, and communities thrive in an ever-changing world. For additional information, visit us at www.wipro.com.
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