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PwC’s 2023 Global Asset and Wealth Management Survey, which includes forecasts through 2027, paints a portrait of an industry in the throes of unprecedented change, driven by massive consolidation, market volatility and, not least of all, technological disruption. Among the survey’s most striking findings: a projected boom in robo-advice. The study predicts that assets managed by these algorithm-driven and increasingly AI-enabled digital platforms will surge to almost US$6 trillion by 2027, nearly double the figure for 2022.
This trend signals a broader one across other aspects of the asset and wealth management (AWM) industry, with more managers experimenting with generative AI in the middle and back office, and using it to enhance trading strategies and analyse unstructured data.
Integrating AI and other rapidly evolving technologies into both office operations and market-facing services—and doing so quickly and responsibly—is essential for getting ahead of the curve. Industry leaders can start by:
Taken together, these moves represent the new face of AWM: tech-forward, customer-facing and empowered to operate across a wide range of asset types.
Global Asset & Wealth Management Leader, Partner, PwC Ireland (Republic of)
Tel: +353 (0) 1 792 8719