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| Artificial Intelligence - Financial Markets |
AI Reshapes the Future of Global Wealth Management
The world of wealth management is witnessing an unprecedented transformation driven by AI technologies, which have become capable of managing investments worth billions of dollars and guiding financial decisions with speed and accuracy surpassing human capabilities.
As reliance on intelligent systems for trading and advisory services increases, Roger Rouhana, CEO of Alpheya, affirms that the world stands on the cusp of a complete financial revolution. This revolution will transform the investor's relationship with markets and traditional advisors, and redefine trust in financial institutions.
AI Breaks into the Investment World with Record-Breaking Figures
In his remarks, Rouhana presented an in-depth vision of the sector's future, based on data demonstrating the accelerating global adoption of artificial intelligence. The AI-powered trading market has reached $13 billion, with projections indicating it will rise to $70 billion within nine years, while intelligent systems manage assets exceeding $1.2 trillion.
The UAE: A Ready Environment for the New Financial Revolution
Rohana concludes by emphasizing that the success of this transformation requires the continuation of the UAE's approach, through:
* Clear legislation and regulations
* Encouraging investment
* Supporting venture capitalists within a safe and transparent environment
He believes these elements make the UAE one of the most capable environments for embracing the artificial intelligence revolution in wealth management and the shift towards a new financial model based on smart automation and high reliability.
Wealth Management Enters a Radical Transformation
Roger Rouhana asserts that the world is at the dawn of a true revolution in wealth management, emphasizing that the only factor that will remain unchanged is the concept of trust. He explains that consumers consider trust from two fundamental perspectives:
1- Guidance and assurance that the institution holding the wealth is safe and reputable.
2- Results related to the diversity of investment products, the quality of advice, and the final portfolio performance.
Rohana believes that technology has raised the bar for these expectations, as intelligent systems now implement advanced levels of wealth management standards.
Will artificial intelligence replace the human advisor?
Rohana answers decisively: "Not today… but tomorrow." He explains that the current situation is based on a "co-pilot" model, where artificial intelligence provides advanced analytical and decision-making tools, while the human advisor remains.
However, as technology matures in the coming years, wealth management will become entirely the domain of intelligent systems. He notes that users, accustomed to platforms like ChatGPT and AI applications, now expect personalized consultations and detailed, ongoing explanations of their portfolio performance and more complex investment products.
Surveys Reveal a Shift in Investor Mindset
According to Rouhana, the company's surveys show that 70 percent of people are now comfortable with the idea of AI managing their money. However, he also points out that the technology has not yet reached the stage of full maturity that would allow it to completely replace human intervention.
There is currently a gap between expected capabilities and practical application, despite the availability of conceptual models that form the basis for rapid future developments.
AI Outperforms… But “Human Awareness” Cannot Be Replaced
Rohana indicates that intelligent systems are capable of achieving exceptional performance thanks to the abundance of digital input available regarding investment portfolios, assets, risks, and individual relationships.
However, he emphasizes that these systems still lack the ability to absorb subtle human elements that influence decision-making, most notably: body language, family circumstances, and details of clients' personal lives.
Rouhana adds that the future will witness the development of AI's video and audio analysis capabilities, enabling machines to integrate these human factors into the evaluation process, thus enhancing their performance to surpass human capabilities in this field.
Why are humans still at the center?
Despite the changing landscape, Rouhana emphasizes the necessity of human involvement for two reasons:
Algorithms are inherently biased.
Human presence is crucial for refining AI recommendations, particularly in sensitive investment decisions. This is where companies like Alpheya play a vital role, working to integrate AI into the workflows of financial institutions to ensure safe use, improve customer experiences, and deliver more accurate results.
The Future: A "Visual" Financial Advisor… and a Personalized Avatar
Rohana goes further, asserting that the near future will see a digital, visual advisor (avatar) designed specifically for each individual, possessing knowledge gleaned from thousands of human experiences, offering advice with confidence and competence, thus becoming the "digital image of the ideal advisor."
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