About $78 trillion is on the move for wealth managers to grab, fueled by the global expansion of the wealthy middle class, wealthy women and wealth created by entrepreneurs and business owners. 2 Seizing this opportunity requires a significant shift in strategy and approach as wealth managers recognize how the digital agenda of the past has rapidly become the digital imperative of the future. Simply put, there is a huge opportunity to get more out of AI. By using proven use cases as a starting point, the AI adoption process can be accelerated, allowing asset managers to move smoothly from theory to implementation and benefit from scale. We are seeing a rapid evolution from today's world of targeted applications to the future of embedded innovation, which makes it clear why AI should be part of your short-term execution strategy. Today: Reaffirming Value and Building a Foundation Wealth management and artificial intelligence come together at five key points in the value chain: customer experience, product and pricing, customer experience, performance and operational efficiency. According to Gartner, by the end of 2024, three-quarters of enterprises will move from pilot projects to adopting AI.
3In the field of wealth management, the early adopters of AI have focused mainly on risk management and compliance functions. Recently, attention has shifted to marketing and service. Our survey results showed that up to 80% of respondents reported that they are either deploying or scaling AI-powered technology that is client- and advisor-centric. By keeping the customer at the center of every interaction, using advanced AI-driven analytics, and delivering increased personalization, consultants can better understand and anticipate customer needs. Money management is ready to harness the potential of AI for the benefit of both the top and bottom line. We've seen it first hand - helping gamers of all types, sizes and strategies start their AI journey with measurable results. Our experience shows that it is not uncommon for a single use case to result in a 20%+ increase, increasing both the number of existing customers and the revenue from new customers.
When multiple use cases are used, a combinatorial effect occurs and long-term growth can easily be doubled or more. Our experience shows that it is not uncommon for a single use case to result in a 20%+ increase, increasing both the number of existing customers and the revenue from new customers. .