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WealthGap’s CEO John Zhang “AI will play an integral role in the future of wealth management”



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WealthGap CEO John Zhang is excited about the future AI beholds for asset management. A young entrepreneur with a successful business venture Luxari up his sleeves awaits the revolutionary change. With his second venture WealthGap, a wealth and portfolio management company, he has already experienced how the evolution AI can bring in accuracy and replace redundant tasks.

John claims the contribution of AI in all sectors is going to be profound. It will indeed replace human jobs, but one should also flip the coin to see why AI is essential in the future. A research conducted by the Cambridge Centre for Alternative Finance, at the University of Cambridge Judge Business School and the World Economic Forum, and co-sponsored by Ernst & Young LLP, reveals that 85% of all survey respondents were already using some form of AI, triggered by the need for enhanced speed and efficiency.

John has been advocating the potential AI will bring in for job duties that push human resources to exponential limits. The possible applications of AI in wealth and portfolio management are endless and influence the entire value chain. According to John Zhang, some of the promising ways in which AI will contribute to efficiency and precision are:

Automated Insight – AI will read earning transcripts to assess management sentiments and map data at a much faster rate.

Relationship Mapping – AI will efficiently identify non-intuitive relationships between market indicators and securities.

Alternative Datasets – AI will proficiently scan through and analyze alternative date concerning search engines, weather forecasts, etc.. This compiled data can be exclusively used to structure strategies.

Growth Opportunities – AI will be used to chart corporate website traffic to assess future growth. AI can also assess and predict the client’s behavioral patterns.

Client Outreach – AI will enable intelligent client outreach and demand generation using analytics and alternative sources of data such as Social media.

Artificial Intelligence and Machine Learning will also increase the front, middle, and back-office efficiency. John predicts AI will enhance Operations Intelligence by using machine learning to automate functions. AI-based algorithms will power risk performance by spotting suspicious transactions and triggering instant response protocols. It will seamlessly generate reports for clients, manage portfolios, and assets.

Chatbots will be the new craze as John shares, “We can see that the whole industry is going from human advisors to Robo advisors.” In the finance industry, AI will be a boon eliminating loopholes and lagging workflows. Constant monitoring of employees will boost their productivity, ensuring growth in company sales. Humans could take a break from mundane and repetitive jobs.

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