AI adoption is already happening; trust is the next frontier

Citi's survey in Hong Kong reveals a clear distinction in how investors view AI in wealth management. While a significant 77 percent of the Emerging Affluent segment prefer AI to inform or recommend actions, only 4 percent would allow AI to manage their investments entirely on its own. This suggests a broad acceptance of AI as an advisory tool, but a notable reluctance to delegate final decision-making authority for personal finances.

This observed behavior aligns with the perspective shared by Citi’s head of Wealth Intelligence, Joe Bonanno, who describes the future of wealth management as "human-led, and AI-enabled." AI tools, such as Citi Sky, are reported to tailor guidance based on client life events, providing relevant advice for situations like retirement planning. Similarly, Advisor Insights is noted to assist advisors by surfacing relevant data, allowing them to dedicate more time to client relationships rather than replacing their role.

Vicky Kong, Citi’s head of wealth for Asia North & Australia, points out that client expectations have grown more sophisticated, demanding proactive information and better advice. This indicates that as AI becomes more embedded in financial services, the demand is for trusted partners who can help clients navigate innovation confidently. Financial institutions are therefore tasked with providing not just digital capabilities, but also strong governance, security, and safeguards, as exemplified by Citi's virtual credit card with a dynamic verification code to enhance security.