GITNUX MARKETDATA REPORT 2024

Ai In The Ria Industry Statistics

AI is expected to revolutionize the RIA industry by improving efficiency, accuracy, and personalization of services.

Statistic 1

"Approximately 58% of RIA firms predict the use of AI and robotics process automation will reshape the industry in the next five years."

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Statistic 2

"50% of RIA firms believe that AI will become essential within the next five years."

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Statistic 3

"Almost 41% of RIAs currently utilize AI somehow in their operations."

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Statistic 4

"30% of RIA firms plan to implement AI in the near future."

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Statistic 5

"Approximately 56% of RIA think that AI will help in risk management."

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Statistic 6

"Over 70% of financial advice professionals consider AI as a help rather than a hindrance."

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Statistic 7

"Nearly 25% of RIAs cite a lack of understanding about AI as a primary barrier to adoption."

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Statistic 8

"RIAs are now using AI to process unstructured data, with potential cost savings of 60% to 75%."

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Statistic 9

"Approximately 35% of RIAs are not only interested in AI but are also dedicated to making the investment in it."

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Statistic 10

"A third of wealth managers see AI as the most influential technology for the future of financial advice."

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Statistic 11

"Around 40% of top-tier wealth managers use AI for client interaction."

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Statistic 12

"It is predicted that by 2021, 90% of RIA businesses will regularly use AI and machine learning."

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Statistic 13

"Approximately 100% of top-performing companies surveyed by Forbes say they are using AI for customer segmentation."

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Statistic 14

"Big data analytics & AI are two of the top five digital technologies adopted by 61% of RIA firms."

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Statistic 15

"85% of executives surveyed by Accenture believe that AI will allow their companies to obtain or sustain a competitive advantage."

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Statistic 16

"75% of banks and capital markets plan investing in AI and blockchain according to Accenture’s research."

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