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2024 | Buch

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AI Technology in Wealth Management

Leveraging Technology to Transform Financial Strategies

verfasst von: Mahnoosh Mirghaemi, Karen Wendt

Verlag: Springer Nature Switzerland

Buchreihe : SpringerBriefs in Finance

Enthalten in: Springer Professional "Wirtschaft+Technik" , Springer Professional "Technik" , Springer Professional "Wirtschaft"

Inhaltsverzeichnis

Über dieses Buch

This book explores AI technology in wealth management, including what it is, how it changes the wealth management and private banking landscape, its advantages, and how it democratizes wealth management. Specifically, this book investigates topics such as

Hyper-personalized investment strategies Combined quantitative analysis with sentiment analysis to create prescriptive and predictive scenarios Expandable and transparent AI algorithms in wealth management Customer experience and client engagement Tailored financial content

Providing a clear and concise description of how AI driven wealth management differs from traditional investing, asset management, and wealth management offering new opportunities for investing, this book is ideal for students, scholars, researchers and professionals interested in accessible wealth management applications for investing in the 21st century.

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Inhaltsverzeichnis

Frontmatter

Chapter 1. Wealth Management and the Three Percent Conondrum

Abstract

Wealth management is the comprehensive management of an individual’s or entity’s financial assets and investments, aiming to grow wealth over time while mitigating risks. It encompasses a wide range of services and strategies tailored to meet specific financial objectives, such as retirement planning, tax optimization, estate planning, and investment management.

Mahnoosh Mirghaemi, Karen Wendt

Chapter 2. Wealth Management: A Short Story of Its History and Journey to Modern Times

Abstract

Wealth management, as a multifaceted discipline, involves more than just managing investments. It encompasses a comprehensive suite of financial services aimed at meeting the diverse needs of clients. In this chapter, we will delve into the historical context and modern practices of wealth management to provide a clear understanding of what this field entails.

Mahnoosh Mirghaemi, Karen Wendt

Chapter 3. The Place of Wealth Management in the Modern Financial Landscape

Abstract

Wealth management holds a crucial place in today’s financial landscape, providing individuals and families with the tools and strategies necessary to navigate complex financial markets, achieve financial goals, and secure their financial futures. This chapter will explore the economic impact of wealth management, its importance from the client’s perspective, and the role it plays in the broader financial ecosystem.

Mahnoosh Mirghaemi, Karen Wendt

Chapter 4. How Does a Traditional Wealth Management Process and Its Practices Work?

Abstract

Wealth management, as a profession, has undergone significant changes over the years. Despite the advancements in technology and the emergence of AI-driven solutions, traditional wealth management practices still form the foundation of the industry. This chapter will delve into these traditional practices, including manual processes and their inherent limitations.

Mahnoosh Mirghaemi, Karen Wendt

Chapter 5. Embracing the Future: Emergence of AI in Wealth Management

Abstract

The financial industry is undergoing a profound transformation with the advent of artificial intelligence (AI). This chapter explores the emergence of AI in wealth management, examining the technological advancements that have driven this change, the current market trends, and the potential implications for the industry.

Mahnoosh Mirghaemi, Karen Wendt

Chapter 6. How AI Is Transforming Wealth Management

Abstract

Artificial intelligence (AI) is revolutionizing wealth management by introducing new capabilities and efficiencies that were previously unimaginable. This chapter will explore the various ways AI is transforming the industry, focusing on data analytics and predictive modeling, automated investment platforms, and the personalization and customization of financial advice.

Mahnoosh Mirghaemi, Karen Wendt

Chapter 7. Data Analytics and Predictive Modeling Transform Asset and Wealth Management

Abstract

Data analytics and predictive modeling represent a significant leap forward in wealth management, offering capabilities far beyond those of traditional methods. By leveraging vast amounts of data quickly and efficiently, these technologies enable more informed decision-making and accurate forecasting. At the core of the AI revolution in wealth management, data analytics and predictive modeling provide deep insights, forecast trends, and inform strategic financial decisions. This chapter delves into their utilization, focusing on their roles, methodologies, and impact on investment strategies and risk management.

Mahnoosh Mirghaemi, Karen Wendt

Chapter 8. Automated Investment Platforms and Their Benefits

Abstract

Automated investment platforms, powered by advanced AI technologies, have revolutionized the asset management landscape. These platforms offer cost-effective, efficient, and personalized investment management solutions, making wealth management accessible to a broader audience. This chapter explores the various types of automated investment platforms, their functionalities, and their impact on the industry.

Mahnoosh Mirghaemi, Karen Wendt

Chapter 9. The Triple Win Factor: Enhancing Efficiency and Accuracy

Abstract

The integration of AI in wealth management has significantly enhanced operational efficiency and accuracy. This chapter explores how AI-driven technologies streamline processes, reduce costs, and improve the precision of financial strategies and decisions.

Mahnoosh Mirghaemi, Karen Wendt

Chapter 10. Key Differences Between Traditional and AI Wealth Management and Why Customers Should Care

Abstract

The wealth management industry is experiencing a paradigm shift with the integration of AI technologies. While traditional wealth management practices have long been the cornerstone of financial advising, AI-driven approaches are redefining the landscape. This chapter explores the key differences between traditional and AI wealth management, highlighting their respective advantages and challenges. Let us first look into the paradigm shifts.

Mahnoosh Mirghaemi, Karen Wendt

Chapter 11. Conclusion: Harnessing the Power of AI in Wealth Management

Abstract

The integration of artificial intelligence (AI) in wealth management marks a significant transformation in the financial industry. AI’s ability to analyze vast amounts of data, automate processes, and provide personalized financial advice offers numerous advantages over traditional wealth management practices (Devan et al., 2023). This chapter summarizes the key insights from our exploration of AI in wealth management and discusses the future potential of AI-driven financial strategies.

Mahnoosh Mirghaemi, Karen Wendt

Backmatter

Titel: AI Technology in Wealth Management
verfasst von: Mahnoosh Mirghaemi
Karen Wendt
Copyright-Jahr: 2024
Verlag: Springer Nature Switzerland
Electronic ISBN: 978-3-031-72223-3
Print ISBN: 978-3-031-72222-6
DOI: https://doi.org/10.1007/978-3-031-72223-3

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