Updating and expanding service offering of financial advisory practice through competitive AI technologies

THE CLIENT

Consulting MNC

Region

North American

 

Industry

Management Consulting

Division

Financial Advisory

THE CHALLENGE

Competition in providing financial advisory services in disruptive technology deals is continuously growing with other Big-three, Big-four, multinational organisations and also smaller specialised management consulting firms. With innovation being part of their agenda, it was imperative that our client further improved their service offering through innovative technologies to expand their market competitiveness. There is much ongoing academic and industrial research into Artificial Intelligence (AI) and all its subfields such as machine learning, natural language processing, process mining, computer vision, stochastic optimisation, big data collation, predictive/cognitive analytics, speech recognition and complex data architectures (i.e. neural networks) for financial advisory services. Due to this, our client saw the incredible opportunity to innovate its entire service offering and tools for current and future financial advisory customers.

Our client wanted CamIn to provide a detailed study on how the financial advisory landscape is going to evolve over the next years. On one hand, this study will highlight how the client has to innovate its existing services  and trim the least innovate technologies and technology assets. On the other hand, the client will also gain an understanding of what new services the market demands and what what low-hanging fruit and game-changing technologies will be available to cater to such demands. 

8

experts assembled for

the consulting team

5

low-hanging fruit technologies to improve current services

4

game-changing technologies to expand into new service offerings

THE SOLUTION

CamIn created two expert consulting teams of technology and industry experts. Initially, we provided a technology landscape and a forecast of technologies within all the AI subfields that are currently developed and could be used (or are already in use) for the professional services industry within the next 5 years. In addition, we also provided an industry landscape and forecast of how financial advisory services will evolve over the next 5 years and what new services will be desired, driven by the increased demand for such services.

Combining the technology push driven by innovation in AI and market pull driven by change in financial advisory demands, we provided a shortlist of high impact technology-enabled business opportunities. The shortlist identified low-hanging fruit which required adoption of late-stage technologies within 1 year and game-changing technologies which could revolutionise the industry and the client's position within the next 3 years. 

THE IMPACT

CamIn’s analysis and actionable advice, delivered in a detailed report and workshop session, gave the Client a thorough understanding of current and future technology-enabled business opportunities for them to further expand their service offering in. In addition, after conducting the technology audit we were able to identify high-impact low hanging fruit to quick improve their current service offering and game-changing technologies to expand their service offering and cater to future lucrative business opportunities. The client has already started to implement our advice on integrating our shortlisted low-hanging fruit and has requested CamIn to work with them to conduct feasibility studies on several game-changing technologies. 

WOULD YOU LIKE TO LEARN MORE?

If you are looking to invest into emerging technologies, grow your innovation portfolio, and expand into new lucrative areas then we are ready to share our insights with you. Please connect with our Professional & Financial Services practice.

RECENT CASE STUDIES

explore

practices

follow us

legal

Cambridge Innovation Consulting is an ISO certified organisation with 27001:2013 (# 317252019) and 9001:2015 (# 317242019) certifications. We can be reached via email: info@camin.com. Our organisation is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, colour, age, religion, gender, sexual orientation, national origin, or any other characteristic protected under local law, where applicable.

© 2020 Cambridge Innovation Consulting.