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CIO Applications Weekly Brief

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  • Blockchain
Editor's Pick (1 - 4 of 8)
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A Closer Look at Block Chain Technology

A Closer Look at Block Chain Technology
John Shea, CIO, Eaton Vance

Blockchain Community Leader, I am part of the Innovation & Digital Transformation team that runs innovation initiative for CACIB

Blockchain Community Leader, I am part of the Innovation & Digital...
Xavier Laurent, Blockchain Community Leader for Credit Agricole CIB

Blockchain: The Paradox

Blockchain: The Paradox
Sean Khozin, MD, MPH, Associate Director, FDA

Blockchain Is it Really Worth the Hype?

Blockchain Is it Really Worth the Hype?
Sheila Warren, Head of Blockchain and Distributed Ledger Technology, World Economic Forum

Why CXO's cannot ignore Blockchain?

Why CXO's cannot ignore Blockchain?
Jagruti Solanki, CPA, MBA, CGMA, and Assurance Partner, Aprio

Blockchain, the real benefit behind the technology

Blockchain, the real benefit behind the technology
Rebecca Hofmann, Manager of Innovation, Equinor Chairman, OOC Blockchain Consortium

Blockchain for Personalization, Opportunities and Challenges for the future

Blockchain for Personalization, Opportunities and Challenges for...
Giridhar Tatavarty, VP, Data Science at 84.51˚

Blockchain Rising: Have You Considered Blockchain for Your IoT Strategy?

Blockchain Rising: Have You Considered Blockchain for Your IoT...
Gavin Whitechurch, EVP Product & Strategy, KNect365 TMT

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AI and Blockchain: Disruptive Forces in Wealth Management

By CIO Applications| Friday, February 15, 2019
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The wealth management industry is one of the latest industries to adopt intelligent technologies. Blockchain allows wealth managers to precisely identify and recommend products to customers. AI in wealth management empowers consultants and adds customer value by using big data tools such as intelligent tagging and knowledge graphs to uncover previously hidden links and insights.

The major factors that influence the wealth management industry are information, analysis, decision-making, and infrastructure. Unfortunately, these are uncharted waters for retail investors.  The first step in wealth management towards AI(Artificial intelligence) is for companies to leverage their data and visualize links between data sets. Smart tagging and knowledge graph technology optimizes news and research data for machine learning and personalization.

Check this Out:Top portfolio management Solution Provider Companies

According to an IDC report, Forbes Global 2000 companies account for at least 25 percent will use Blockchain as a digital trust foundation by 2021. While blockchain has started to create waves in the wealth management industry, the unexplored domain is how it transforms the way the industry works. Artificial intelligence allows automation and portfolio management to be improved significantly. Some algorithms can do much better than most people have done manually. Investing in AI is not just a test, but it is beneficial for users. Today, its tech portfolio is mainly focused on the world’s richest hedge funds and banks, which in recent years have invested heavily in equipment, technology, and human resources to set up state-of-the-art in-house infrastructure, big data analytics, AI-powered systems, and more. Companies such as TrustVerse use both AI and blockchain technologies to help people manage their crypto assets and their entire online identification.

The blockchain technology has a number of uses in the wealth management industry. It is used to remove friction from the on-boarding process of the customer, streamline portfolio management, speed up the clearing process, reduce the burden of anti-money laundering, and allow wealth managers to know their customers.

According to Gartner, blockchain is set to grow by 43 percent in the wealth management industry by the next five years. The technology could transform the value proposition of wealth management for operations and has the ability to streamline customer service operations. The success of the technology will depend on its distributed nature and the willingness of a firm to participate. 

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Blockchain

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