Embracing Technology and Artificial Intelligence

Challenges:

Despite recognising the transformative potential of technology, many family offices have been slow to adopt advanced digital tools and AI-driven analytics. This lag exposes them to operational inefficiencies, cybersecurity vulnerabilities, and missed opportunities for data-driven decision-making. Additionally, integrating new technologies requires investment in talent and change management, which can be difficult for smaller or less mature offices.

Opportunities:

Technology adoption is accelerating, with over half of family offices building portfolio exposure to generative AI and exploring AI applications in accounting, portfolio management, and risk assessment. AI and automation improve operational efficiency, reduce compliance costs, and enhance reporting accuracy. Cybersecurity is a critical focus, as 43% of family offices have recently faced cyber-attacks, underscoring the need for robust digital defenses. Leveraging technology enables family offices to scale operations, improve transparency, and gain competitive advantages in investment sourcing and monitoring