Family offices now rely on AI
A new study found the majority of family offices are using AI to extract insights from complex financial data, marking a shift from experimental pilots to mainstream adoption. For corporate finance teams, that raises the bar: automate data prep and anomaly detection, then focus human effort on validated 'why' narratives and decisions. (artificialintelligence-news.com)
Ocorian’s new global study surveyed family members and senior executives across 16 countries and territories and says the respondents collectively oversee US$119.37 billion in wealth. (drasticnews.com) The research reports 86% of those surveyed are already using AI to improve operations and generate deeper data insights. (drasticnews.com) Only 7% of respondents are currently seeking investment opportunities in the AI sector, even though nearly three-quarters (74%) expect to increase investment in AI and other digital assets over the next three years and 20% plan to “dramatically” increase exposure. (drasticnews.com) About a quarter (26%) strongly agreed AI will reshape how family offices are run and boost performance within the next year, while 72% said the major impact is likely to take between two and five years. (drasticnews.com) Multiple outlets covering the study describe the survey as drawing on roughly 200 family office executives and principals as respondents. (caymanfinance.ky) Ocorian lists markets included in the research such as the UK, US, UAE, Singapore, Switzerland, Hong Kong, South Africa, Saudi Arabia, Mauritius and Bahrain among the 16 territories surveyed. (ocorian.com) Michael Harman, Commercial Director UK & Channel Islands at Ocorian, told clients adoption is “gradual” and that Ocorian is working with family office clients to deliver outcomes without requiring them to manage implementation and associated risks directly. (ocorian.com)
