Artificial intelligence set to revolutionize wealth management
Wealth management is on the cusp of a revolution powered by artificial intelligence that offers predictive analysis and recommendation engines so individuals can make better investment decisions.
The next wave of computational tools is already available to users of Ant Fortune, the wealth management platform of Ant Financial Services Group, as the number of individual investors in nonmoney market funds doubled in the past year thanks to higher returns on investments backed by algorithms. Ant Financial is an affiliate of Alibaba Group.
During a recent conference in Shanghai, Ant Financial said AI has fueled 70 percent growth in the number of transaction users from last year on its Ant Fortune platform, with those who have purchased automatic investment plans having jumped 1.7 times year-on-year.
