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...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
