In Zürich last week, The Wealth Mosaic hosted the latest in an ongoing series of roadshow events: the AI Toolkit Roadshow. Held at AWS, the event assembled a cross-section of wealth management professionals, technology vendors, and industry consultants to explore the transformative role of Artificial Intelligence (AI) in reshaping the wealth management landscape.

Driving innovation through collaboration

The event kicked off with a warm welcome from Stephen Wall, Founder of The Wealth Mosaic, who set the stage for a deeper dive into the evolving themes around AI in wealth management. He introduced our forthcoming AI Toolkit 2024 report, highlighted our AI WealthTech Market Map and its growth, all-in-all emphasising the urgency for wealth managers to understand AI's potential impact on the industry, and its integration into daily business operations.

Vincenzo Chiochia from Deloitte delivered a compelling keynote on the current state of AI adoption in the wealth management sector based on Deloitte’s research and market engagements. His insights into the challenges and opportunities faced by firms were particularly resonant, highlighting the complexities of navigating this technological evolution within the Swiss market.

Engaging technology demonstrations

The heart of the event lay in the technology demonstrations, where four vendors showcased innovative AI solutions designed specifically for wealth management. From AWS' advanced Customer 360 insights to InvestCloud's AI-driven client engagement tools, attendees witnessed first-hand the potential of AI to enhance operational efficiency, client experience and other requirements. Each demonstration provided clarity as to how firms can leverage AI-based technologies to remain competitive in a fast-evolving industry:

•    AWS: Customer 360: Showcasing better insights through ML and NLP.
•    InvestCloud: Demonstrating its vision for a Cambrian explosion of AI within wealth management.
•    Storyline AI: Revealing how AI video technology can generate personalised client experiences.
•    Prometeia: Exploring transformative GenAI applications in front-office workflows.
•    AWS: AI-powered investment policy assistant.

Expert insights and panel discussion

The day culminated with a thought-provoking panel discussion, featuring industry participants Boris Rankov (InvestCloud), Milica Lazic (AWS), Vincenzo Chiochia (Deloitte) and Jonathan Hayes (Julius Baer). Moderated by Stephen Wall, the panel explored present and future applications of AI in wealth management, outlining its transformative possibilities, the challenges and roadblocks in its adoption, and the multi-faceted nature of bringing AI into the sector. The dialogue was full of practical advice, equipping attendees with actionable insights to implement AI strategies.

A vision for the future

As the event came to a close, participants reconnected during a networking lunch, sharing insights and experiences sparked by the morning’s sessions. The positive atmosphere mirrored the shared sense of purpose and a collective vision for the future. 

The AI Toolkit Roadshow 2024 was not merely an event; it was a forum for knowledge exchange, collaboration, and innovation. With the insights gained and relationships formed, attendees are well-equipped to drive their firms towards a future where AI is not just an auxiliary tool, but a core element of their business strategy.

As we move forward, the insights gained from this event will undoubtedly shape the trajectory of wealth management practices globally. Let the conversation continue as the industry embarks on this exciting journey, ensuring that AI becomes an essential tool in enhancing the client experience and operational excellence.

For those who were not able to attend, follow the conversation on social media with the hashtag #AIToolkitRoadshow2024 and stay engaged with the evolving narrative of AI in wealth management.

For those eager to learn more about the AI Toolkit and forthcoming reports, stay tuned to our updates and join our community as we explore the wealth management landscape’s evolution.

Discover our latest reports!

Client Experience Toolkit 2024 – read here
Swiss WealthTech Landscape Report 2024 – read here
WealthTech 2024 – read here