80% of asset and wealth managers say AI will fuel revenue growth while 'tech-as-a-service' could see 12% boost to revenues by 2028: PwC 2024 Asset & Wealth Management Report

PwC England United Kingdom

Almost three-fourths (73%) of asset and wealth management (AWM) organisations say AI is seen as the most transformational technology over the next 2-3 years81% are contemplating strategic partnerships, consolidations, or mergers and acquisitions (M&A) to enhance technological capabilities and build an 'extended tech ecosystem'Global assets under management (AUM) projected by PwC to hit US$171 trillion by 2028 at a 5.9% compound annual growth rate (CAGR), with alternatives to grow quicker – at 6.7% CAGR, to reach $27.6 trillion by 2028AWM organisations look to tokenisation to democratise finance: PwC expects tokenised investment funds to surge to over $317 billion in 2028, at a 51% CAGRSkills in high demand: 73% of asset managers considering M&A see access to skilled expertise as the number one driver of deal-making over next 2-3 years, yet 30% say they lack relevant skills and talentView original content:https://www.prnewswire.co.uk/news-releases/80-of-asset-and-wealth-managers-say-ai-will-fuel-revenue-growth-while-tech-as-a-service-could-see-12-boost-to-revenues-by-2028-pwc-2024-asset--wealth-management-report-302308841.html

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