HCLTech AI Study: 84% of Wealth Firms See Need for Change but Lag in Preparation
HCLTech's new AI-driven report reveals that 84% of wealth management firms recognize the need for a new operating model, but fewer than 10% are prepared for the shift.
HCLTech AI Research Highlights Gaps in Wealth Management Sector
HCLTech has released a new AI-driven research report, "Hidden In Pl(AI)n Sight," examining the global wealth management sector. The report is based on an analysis of over 1,000 AI-generated synthetic profiles representing decision-makers in wealth management firms across 17 global markets.
The study's key finding is that 84% of global wealth management firms acknowledge the necessity of redesigning their operating models to fully leverage AI's potential. Despite nearly all firms actively pursuing an AI agenda, fewer than 10% are developing agent-based AI capabilities.
HCLTech identified three critical blind spots hindering companies from translating AI enthusiasm into tangible business outcomes: ambition gaps, execution challenges related to data utilization, and strategic blindness where AI's impact on growth is not measured.
"The industry's problem is not investment, but decision-making," stated Srinivasan Seshadri, Chief Growth Officer and Global Head of Financial Services at HCLTech. He emphasized that while firms invest in AI, few can precisely define how AI is integrated into the business model or measure its true impact on customer flow and revenue.
The report combines AI's analytical capabilities with human expertise. HCLTech suggests that future leaders will integrate AI, customer data, and ecosystem partnerships. The study also highlights significant regional disparities, with Asia and North America leading in AI adoption compared to Europe.