Preparing for the Future of Financial Advisory Services with Cognitive Computing Technologies

Our Client & Their Goals

Our Client, a global provider of financial advisory services, was interested in exploring new cognitive computing technologies, which includes sub-areas such as artificial intelligence (AI), machine learning, natural language processing. Our client was preparing for changes in the industry and has recognised that such technologies would create opportunities for them to improve and expand their advisory tools and client-facing services. Their goal was to provide innovative financial advisory solutions that would enable them to better serve their customers, and give them an edge in their competitive industry.

However, with little experience in this technology area and so much hype around cognitive computing, our Client needed expert guidance to identify real solutions that would be applicable in the area of finance. We helped our Client achieve their goals by assessing how the landscapes for cognitive computing technologies and the financial advisory industry will evolve over the next five years.

CamIn's Solution

We assembled two project teams with world-class experts who were selected based on their extensive knowledge and implementation experience with technologies from all of the sub-areas related to cognitive computing. Our expert teams then contributed to our analyses and helped our Client pursue their goals.

First, our teams worked with us to complete landscapes and forecasts on both cognitive computing technologies and on the financial advisory industry. Our technology forecast helped our Client understand which cognitive computing technologies were best for their intended applications, and when each technology would be ready to be implemented. Our industry landscape and forecast projected what new types of financial advisory services would be in high demand over the next five years.

Synthesizing the findings from these two analyses, we created a shortlist of high impact technology-enabled business opportunities that our Client would pursue over the next five years. These opportunities will be driven by the “technology push” of future innovations in cognitive computing and the “market pull” of changes in demand for different types of financial advisory services.

Finally, we worked with our teams to evaluate all of our Client’s existing services and technology assets based on the findings of our forecasts. This assessment would help our Client to understand which of their advisory services areas or technology assets they should plan to modify or retire over the next five years.

Our shortlist also helped our Client define their long-term innovation plan, including several never-before-seen solutions identified by our team that will revolutionise the financial advisory industry over the next three years.

The Impact

Our analysis and actionable advice provided our Client with a thorough understanding of current and future opportunities related to cognitive computing and the financial services industry. They intend to use these resources to guide their strategy for expanding their financial advisory service capabilities in the near future.

The shortlist of technologies that our expert teams identified allowed our Client refine their near-term strategy for achieving their goals. This will involve using late-stage technologies to create new tools, products, and services within a year.

Our shortlist also helped our Client define their long-term innovation plan, including several never-before-seen solutions identified by our team that will revolutionise the financial advisory industry over the next three years.

Our evaluation of our Client’s existing technology assets identified several ways that cognitive computing technologies would be used to provide quick, ready-to-implement improvements to their current services. It also identified the opportunity to deploy game-changing technologies that will be instrumental in addressing new business opportunities over the next five years.

Our Client has begun to integrate the shortlisted technologies we identified. Additionally, they have requested that we conduct additional feasibility studies on the game-changing technologies we identified, which will be part of new advisory service offerings unique to their industry.