Technology has revolutionized many sectors in the past decade. Specifically speaking, the pandemic gave rise to the rapid acceleration of technological adoption. Businesses and consumers had to rely on only one thing: technology. Of all the industries that have benefitted from the rapid growth of technology, Finance has been no exception.

• Like every other domain, banking is increasingly looking at digital transformation as the foundation for resilient and profitable future operations. According to Gartner, the adoption of digital technologies is the most significant trend in the banking industry. Successful digital transformation stands on four pillars; customer experience (CX), technology, workforce reskilling, and process innovation.

It is no secret that AI-powered intelligent chatbots are on the rise. In fact, in a recent Statista study, by 2024, the global chatbots market will expand beyond $994 million. McKinsey Global Institute found that by 2020, companies will have spent $1 trillion to invest in artificial intelligence (AI) technologies. Wealth management chatbots, powered by conversational Artificial Intelligence (AI) and capable Machine Learning (ML) algorithms, can be useful instruments that impact a variety of wealth management use cases and operations.