Many financial advisors are starting to be big fans of artificial intelligence (AI) — not only because it can automate administrative tasks like data entry but also because it can have a significant impact on the client-advisor relationship.
Accenture recently released new research, “AI in Wealth Management: A Financial Advisor Study,” after surveying 500 licensed financial advisors in the U.S. and Canada earlier this year who work at major wealth managers, banks, insurers and independent wealth firms.
The study revealed that 98% of respondents believe that AI is transforming how advice is created for, delivered to and consumed by clients, and 97% believe that AI can help grow their book of business organically by more than 20%.
Additionally, 83% of advisors believe AI will have a direct, measurable and consistent impact on the client-advisor relationship by early 2024. See more survey results.