Financial institutions around the globe must tackle the positive and negative implications of GenAI technology to build next-generation digital platforms while focusing on the human element of the industry. While a third of surveyed wealth management firms in Canada believe there is a place for GenAI in their businesses, considerable indecision remains across the board about what the actual use cases will ultimately be.

This report reviews how wealth management firms in Canada are engaging with GenAI-driven solutions,  how they are thinking about AI/machine learning and prioritizing it against or complementing it with other key technologies and capabilities, and what they view as the next three key pieces of functionality for their client reporting platforms. It is principally based on responses to a quantitative survey posed to 21 Canadian wealth management practitioners in Q3 2023.

Clients of Datos Insights’ Wealth Management service can download this report.