HCLTech AI study reveals wealth management operating model gaps
A new synthetic research report by HCLTech indicates that 84% of wealth management firms recognize the need to reset their operating models to fully leverage artificial intelligence.
HCLTech, a global technology company, has released "Hidden In Pl(AI)n Sight," a synthetic research report examining the state of artificial intelligence adoption in the wealth management industry. The study, which surveyed 1,066 AI personas modeled on industry decision-makers across 17 global markets, highlights a significant gap between AI ambition and effective implementation.
The research found that 84% of global wealth management firms believe their operating models require fundamental redesign to fully realize AI's potential. While 98% of leadership teams are pursuing an AI agenda, a mere 7% are actively building agentic AI capabilities, suggesting a disconnect in strategic execution.
The report identifies three critical "blind spots": ambition (focusing on efficiency over transformation), execution (tech investments without corresponding data investments), and strategy (tracking adoption without measuring business impact). This means many firms are investing in AI without a clear path to measurable outcomes like growth or new client value.
"The industry doesn't have an investment problem. It has a choices problem," stated Srinivasan Seshadri, Chief Growth Officer at HCLTech. "While nearly every firm is spending on AI, far fewer can articulate which programs they're funding or whether they're measuring the outcomes that matter." He emphasized that lasting competitive advantage will come from combining AI with proprietary client knowledge and strong ecosystem partnerships.
The study itself utilized a blend of AI and human expertise, a methodology HCLTech recommends to clients. It suggests that future industry leaders will be those best able to orchestrate AI, human expertise, and ecosystem partners, rather than simply those deploying the most AI.