Yet many are struggling to build the data, technology and organisational foundations needed to deploy them at scale. The shift is taking place in an industry responsible for managing a record £10 trillion in assets, making the UK the world’s second-largest asset management centre after the US. The survey of 225 senior technology leaders in UK asset and wealth management found that firms are already using AI to improve existing workflows. Back-office automation fell to 21%, suggesting many asset and wealth managers now see it as work already underway. Newer models are making more complex knowledge work possible, but higher-value use cases place a much more demanding test on the data, technology, governance and specialist capacity supporting them.”