Artificial intelligence will bring major upheaval to wealth management, a Microsoft (MSFT.O) executive said, as the technology’s potential to process information vastly reduces the hurdles required to compete with established banks.
AI’s ability to condense financial data will allow just a few people to offer services that previously occupied entire teams in a bank, said Martin Moeller, head of AI & GenAI for financial services, EMEA, at Microsoft.
“Generative AI
