New York – September 28, 2026 -- Eighty-four percent of global wealth management firms say their operating models need a fundamental redesign to capture AI's full value, yet fewer than 10% report being prepared for that shift, according to a new HCLTech study.
The report, titled "Hidden In Pl(AI)n Sight," is based on a synthetic research methodology surveying 1,066 AI personas modeled on senior wealth management decision-makers across 17 global markets. It was produced in partnership with research firm Evidenza.
Adoption outpaces agentic AI deployment by a wide margin
While 98% of leadership teams in the sector are actively pursuing an AI agenda, only slightly more than 7% are building agentic AI capabilities, the study found. HCLTech attributes the gap to firms funding AI primarily for efficiency gains rather than structural transformation.
Three blind spots block measurable returns on AI spend
The research identifies an "ambition blind spot," where firms acknowledge the need for transformation but continue funding incremental efficiency projects; an "execution blind spot," where technology investment is not matched by investment in proprietary client data and insights; and a "strategy blind spot," where firms track AI adoption without measuring its impact on growth, revenue or client outcomes. Just 12% of firms measure the new revenue that a redesign is meant to produce, despite 84% calling for that redesign.
"The industry doesn't have an investment problem. It has a choices problem," said Srinivasan Seshadri, Chief Growth Officer and Global Head of Financial Services at HCLTech. "Nearly every wealth management firm is spending on AI. Far fewer can say which programs they are funding, how far AI actually reaches into the operating model, or whether they're measuring the outcomes that matter."
Proprietary client data ranks above technology infrastructure as a differentiator
Executives ranked first-party and behavioral client data as more valuable than cloud platforms, technology infrastructure or AI partnerships in creating competitive advantage. Nearly 80% of respondents believe future industry leaders will be defined by how well they orchestrate AI, human expertise and ecosystem partners together.
Confidence levels diverge sharply by region
APAC firms report the highest confidence in AI readiness at 89%, followed by North America at 84%. Europe trails significantly at 38.3%, indicating a markedly slower pace of transformation across the region.
HCLTech pairs AI-driven scale with human validation of findings
Jill Kouri, Global Chief Marketing Officer at HCLTech, said the study reflects a new research model combining AI-generated scale and speed with human expert validation. Industry practitioners and subject matter experts were involved in persona design and findings validation to ensure credibility.