Rise of the machines: Clients predict AI to replace 45% of portfolio management roles

Expect higher use of AI over next five years

Laura Dew
clock • 2 min read

Almost half of high net worth clients believe artificial intelligence would "mostly replace" humans on portfolio management over the next five years, according to a new report by Tenemos and Forbes Insights.

The report, entitled AI and the modern wealth manager, surveyed 310 global wealth managers and high-net-worth individuals, 28% of whom came from Europe. Some 45% of clients thought AI would replace humans on portfolio management in the next five years, 35% thought it would replace humans on investment advice and 29% believed client communication would be done by AI.  Just 7% of clients said they expected portfolio management would remain carried out by humans in five years time. S&W's Ford: The artificial intelligence opportunities to back in the UK Overall, clients tended to be...

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