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Method

Where AI changes the work, and how we rate it

AI impact follows what today's models are actually good at. Voice and maths lead, documents are next, and work built on organisational knowledge comes last. Funding and new entrants are evidence, never the score.

48%

of Wealth capabilities are high impact (31 of 64)

54%

of Asset capabilities are high impact (14 of 26)

Voice & maths first

Documents are next. Work that runs on unwritten firm knowledge changes last.

The heat map

High Medium Low

Wealth

Account AggregationAdvice EngagementAI AssistantAI NotetakingBehavioral AssessmentCash ManagementClient Data GatheringClient FeedbackClient Meeting SupportClient PortalCommunication Archiving/ MonitoringCRMCybersecurityData Warehouse ServicesDigital Marketing ContentEconomic Analysis & Stress TestingEquity CompensationGenerative AI & SearchHeld-Away Assets & AggregationInsurance / Annuity ServicesInvestment Data AnalyticsLead Gen & Referral NetworksMedicare & Health CareOnline PMs / Robo PlatformsPortfolio Design SolutionsPortfolio ManagementSales EnablementSocial Security AnalysisSRI/ESG Portfolio AnalysisTrading / RebalancingVideoconferencing & Meetings401k SpecialistAI / Advanced PlanningAI GraphicsAll-In-One SoftwareAlternatives Platforms & TradingBroker-Dealer PlatformsCollege PlanningComprehensive PlanningCrypto Trading / TrackingDocument Managemente-SignaturePerformance ReportingProposal GenerationRisk ToleranceScheduling AppsTax PlanningWorkflow ManagementAdvisory Fee BillingBusiness ValuationCaregiving & Special NeedsClient File SharingComplianceCustodial PlatformsDigital OnboardingEstate PlanningLegacy ToolsPassword ManagementPlanned GivingRetirement Income / DistributionRetirement PlanningRollover ComplianceTAMP Service ProvidersUnsorted

Changing fastest

  • Account Aggregation
  • Advice Engagement
  • AI Assistant
  • AI Notetaking

Changing slowest

  • Advisory Fee Billing
  • Business Valuation
  • Caregiving & Special Needs
  • Client File Sharing

Asset

Alternative DataClient & Fund ReportingESG & Sustainability DataExecution Management (EMS)Fundamental Research ManagementIBOR / ABOR & ReconciliationInstitutional Sales & RFPMulti-Asset & OverlayOptimisation & Factor AnalyticsPortfolio ModellingQuant Research PlatformsRebalancing & Cash ManagementTransaction Cost AnalysisWholesale & Platform DistributionFixed Income & FX LiquidityMarket & Liquidity RiskPerformance & AttributionPre-Trade CompliancePricing & ValuationSecurity Master & Reference DataTransfer AgencyCorporate ActionsCustody & DepositaryFund Accounting & NAVOrder Management (OMS)Regulatory Reporting

Changing fastest

  • Alternative Data
  • Client & Fund Reporting
  • ESG & Sustainability Data
  • Execution Management (EMS)

Changing slowest

  • Corporate Actions
  • Custody & Depositary
  • Fund Accounting & NAV
  • Order Management (OMS)

How we rate it: what the research says

Speech & conversation

Most mature

Voice and conversation is where AI already does real work: meeting notes, call summaries, voice-to-voice and answering simple client questions. AI notetakers are the fastest-growing advisor tech; over 4 in 10 advisors use generative AI.

Typical capabilities: Advisor CRM & notes, client service, chat and contact centres

Maths & structured reasoning

Mature

Calculations, optimisation, matching and reconciliation suit models well. Large firms with cash and tech teams build these low-risk uses themselves — Goldman Sachs built AI agents for trade-accounting reconciliation with Anthropic.

Typical capabilities: Rebalancing, optimisation, risk analytics, reconciliation, surveillance

Reading documents

Next wave

Reading statements, factsheets, filings and forms is the next battleground. SIFMA and Sia point to document processing, alternatives reconciliation and corporate actions.

Typical capabilities: Onboarding & KYC, document intake, corporate actions

Writing documents

Next wave

Drafting contracts, proposals, client reports and forms is moving fast, but a person still signs off.

Typical capabilities: Proposals, client reporting, RFPs, regulatory filings

Organisational knowledge

Slowest

Manual work resting on unwritten rules, relationships and judgement sees little real AI use yet. Only a third of investment firms report meaningful ROI, and data gaps slow everything down.

Typical capabilities: Exception handling, complex trade operations, custody breaks

Ground rules

  1. Work built mostly on speech or maths starts at High; Transformative when adoption is visible.
  2. Work built on reading or writing documents is Moderate to High and flagged 'next wave'.
  3. Work resting on organisational knowledge stays Emerging until real use is evidenced.
  4. Drop one level for heavy regulation or mandatory human sign-off; rise one when large firms visibly build it in-house.
  5. New entrants count only as evidence of investment, never as the score.

The score

Each capability gets four scores from 0 to 3. Today's real AI use counts double; limits subtract.

  • Work done or changed by AI today (×2)
    How much of the actual task is now done or shifted by AI?
  • Where it's heading (3–5 yrs) (×1)
    What does authority research expect next?
  • Investment flowing in (×1)
    AI funding, launches and acquisitions aimed at this work.
  • Limits (×-1)
    Regulation, human sign-off or data gaps that slow AI down.

Total 3 or less: Emerging · 4–6: Moderate · 7–9: High · 10+: Transformative.

Sources