Updating and expanding service offering of financial advisory practice through competitive AI technologies
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.
experts assembled for
the consulting team
low-hanging fruit technologies to improve current services
game-changing technologies to expand into new service offerings
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.