About $1 billion of the funds went into data and analytics, where advisers and analysts can rely on generative AI as their handy research assistant; feeding proprietary and public information into the system, AI can help make timely decisions, automate workflows, and generate communication for clients.
"The asset, wealth, [and] financial management sector is undergoing a seismic shift in consumer demand," said Yasin Rosowsky, co-founder and chief technology officer of Arabesque AI, a sustainable fintech provider whose AI generates customized portfolios.
Two-thirds of young people want to put their money in causes they personally align with, according to a recent US Bank survey.
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