PwC: Asset managers look to AI M&A to bolster growth

Global AUM forecast to hit $171trn by 2028

The vast majority of asset and wealth managers have set out plans to tap into the potential AI brings to bolster their growth over the next few years, a PwC report has found.

In PwC's 2024 Asset & Wealth Management Report, published today (19 November), the consultancy found that 81% of the 264 asset managers and 257 institutional investors polled from around the world are looking to enter strategic partnerships, consolidation or M&A deals to enhance their technological capabilities. This is because they see AI as the next big source of revenue growth, as those looking to adopt ‘tech-as-a-service' are expected to benefit from a 12% boost to their revenues by 2028. AI emerges as key priority for asset management CEOs There was also the intention to build...