用人工智能重塑亚洲财富管理

SummaryAbout the researchForewordAsia ambition prevailsDeep dive: Evolving offshore wealth flow opportunitiesGen AI in wealth management:Hype, reality and the path forwardPart 1 – Gen AI and wealth management: The revolution has begunSidebar: Revolutionary tech? Have we not been here before?Part 2 – Industry views on gen AI: ‘A gamechanger’Part 3 – Laying the groundwork: Identifying the optimal gen AI use casesPart 4 – Gen AI in action: How the right strategy will transform firms’ P&LPart 5 – Getting gen AI underway: No time like the presentSidebar: Sales enablement: Unleashing the power of contentto drive revenue growthGen AI and the future of wealth management:Timely—and time to actAcknowledgementsThe Advisory BoardReferencesContentsSmart money:+RZKDUQHVVLQJJHQHUDWLYH$,FDQGHOLYHUWUDQVIRUPDWLRQDOSURÓWJURZWK 0305070912202127293544606170747581 Firms have exceedinglyambitious growth goals …:HDOWKPDQDJHPHQWÓUPVLQ$VLDZDQWWRdouble assets under management (AUM) toalmost US$260 trillion by 2026 and expectrelationship managers (RMs) will deliver95% of that uplift. Firms also want to boostrevenues by 1.7x and improve their cost-incomeratio. Although they will likely enjoy a supportivemacroeconomic environment—in particular,resilient domestic-focused economies—thatwill not be enough to meet their goals.… but they still have much to do$VRXUUHSRUWPDGHFOHDUÓUPVQHHGWRimprove the client experience. This requiresrevamping the digital channel, including focusingon a better mobile app, and re-envisioning theRM role so these crucial staff can overcomeLQHIÓFLHQFLHV7KLV\HDUÀVUHSRUWKLJKOLJKWVWKDWÓUPVVKRXOGDOVRDGGJHQHUDWLYH$, JHQ$,to their end-to-end (E2E) customer journey andincorporate it into their processes for creatingand distributing investment content.Gen AI will redefinewealth management …*HQ$,LVGHYHORSLQJH[SRQHQWLDOO\DQGÓUPVneed to craft a gen AI strategy and implementit—or risk being left behind. While gen AI is nosilver bullet, it is different to previous technologicalDGYDQFHVSURYLGLQJXQSDUDOOHOHGHIÓFLHQFLHVinsights and the ability to learn—and, as we showit could deliver revenue gains worth hundreds ofPLOOLRQVRI86GROODUVWRLQGLYLGXDOZHDOWKÓUPVSummarySmart money:+RZKDUQHVVLQJJHQHUDWLYH$,FDQGHOLYHUWUDQVIRUPDWLRQDOSURÓWJURZWK … and stakeholders know itOur research shows strong interest for gen AI:94% of CXOs are excited about its impact, asare 86% of RMs and 63% of clients. Key areasinclude boosting productivity and personalizinginvestment content for a more targeted clientexperience. Importantly, most RMs and clientsalready use gen AI—which means they shouldbe receptive to it.However, RMs and CXOs do notsee eye to eye on gen AI use casesWhile gen AI can be embedded across theE2E client journey, CXOs and RMs differ onwhich use cases are most important. Our “leadZLWKYDOXHÃDSSURDFKFDQKHOSÓUPVSULRULWL]Hthe 25 gen AI use cases we identify in this reportto achieve their revenue and AUM goals.Gen AI can deliver hugeprofit gains …To show gen AI’s value, we chose six customerjourney use cases—including prospectLGHQWLÓFDWLRQ IDYRUHGE\50V LQYHVWPHQWrecommendations (favored by CXOs) andE2E content dissemination (favored by both).Over three years, our hypothetical wealthPDQDJHPHQWÓUPVDZDSURÓWXSOLIWRIUS$606 million and another US$211 millionboost from cost reductions due to productivityJDLQVUHVXOWLQJLQDWRWDOSURÓWLQFUHDVHRI[However, as this was based on only six use caseswhose implementation was staggered overthree years, actual longer-term uplifts couldlikely be higher. 3Smart money:+RZKDUQHVVLQJJHQHUDWLYH$,FDQGHOLYHUWUDQVIRUPDWLRQDOSURÓWJURZWK3 Offshore opportunities2XUUHVHDUFKDOVRVKRZVWKDWÓUPVFRXOGdo more to target high-net-worth individuals+1:,VZKRPZHGHÓQHDVKDYLQJLQYHVWDEOHassets above US$1 million) seeking offshoreinvestment opportunities—by which wemean investing in assets outside their homemarket. Notably, 11% of Asia HNWIs’ assetsare invested this way.*Tapping this segmentrepresents a sizable opportunity for wealthPDQDJHPHQWÓUPVDVRIIVKRUHZHDOWKÔRZVremain strong—although the mix of destinationsis shifting.Winning in offshore wealth:Know the client …Advisory-oriented clients, whom we callvalidators, are the largest single grouprepresenting 49% of HNWIs in Asia. Ten percentof such HNWIs say they chose their primaryZHDOWKPDQDJHPHQWÓUPGXHWRLWVRIIVKRUHinvesting capabilities—and we know primaryZHDOWKPDQDJHPHQWÓUPVFDSWXUHRIclient-booked wealth. HNWI clients are not justseeking to park cash or invest in illiquid realestate offshore—they want wealth managementproducts such as alternative investments.… and target appropriatelyFirms should choose those corridors**that offerthe greatest revenue potential, that align wellwith what they can offer, and where competitionis less intense. Retail banks could improve theiroperating model to screen clients and refer themto offshore hubs. Corpor