HCLTech study finds 84% of wealth firms need AI-led redesign

A HCLTech study found that 84 per cent of global wealth management firms believe their operating models need fundamental redesign to realise AI’s potential. While 98 per cent are pursuing AI initiatives, only slightly more than 7 per cent are building agentic AI capabilities.

Hyderabad: A research study carried out by HCLTech, a global technology company, revealed that 84 per cent of global wealth management firms believe their operating models require fundamental redesign to fully realise the promise of AI, highlighting the fact that AI transformation is less about adoption and more about reimagining how businesses operate, compete and grow.

The research report “Hidden In Pl(AI)n Sight” was based on a survey of 1,066 representative AI personas modeled on senior wealth management industry decision-makers across 17 global markets. It also revealed that while 98 per cent of leadership teams in the industry are actively pursuing an AI agenda, only slightly more than 7 per cent are actively building agentic AI capabilities.

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HCLTech Chief Growth Officer and Financial Services global head Srinivasan Seshadri said nearly every wealth management firm is spending on AI.

“Far fewer can say which programmes they are funding, how far AI actually reaches into the operating model, or whether they are measuring the outcomes that matter—new client value, growth and revenue models. Our research found that 84 per cent of leaders want a fundamental redesign, yet just 12 per cent are measuring the new revenue that the redesign should produce. That’s the blind spot the winners will close first,” he said.