While artificial intelligence has been growing steadily in recent years, it has attracted much more interest in recent months, following the launch of OpenAI’s ChatGPT. ChatGPT has made the idea of artificial intelligence more accessible and allows average users to see some of the possibilities first-hand. This first-hand experience has increased users’ expectations from apps and software they typically use, including in their professional lives. In turn, software providers are rushing to adopt the new technology.
In the family office sector, many offices want bespoke solutions that are uniquely tailored to their specific needs, rather than something off-the-shelf. Clients expect feature updates like mobile apps, enhanced dashboards and API updates. Family offices are looking for better integrations within their existing product suite to improve operational efficiency.
Beyond impressive mobile app features and seamless integrations, family offices also want solutions that are easy to use with minimal training and onboarding. This means that service providers have to carefully refine everything they develop before they launch. As the number of software and technology providers has exploded in recent years, it can be difficult for family offices to know how to find a provider who offers both the features they need, in addition to ease and reliability.
Forbes recently compiled a list of providers in the family office space, describing their capabilities for data aggregation, management and analysis, and reporting. SS&C Family Office Services was recognized as a cloud-based wealth platform for family offices. Our solution encompasses accounting, consolidated reporting, compliance, portfolio management, trading and data aggregation, and connects to the larger SS&C ecosystem of smart integrations.
Read the full Forbes article to learn more about how artificial intelligence is changing the family offices sector, or explore our SS&C Family Office Services.
