How Advisors are Using AI Tools in 2023
Artificial Intelligence (AI) is becoming a game-changer across industries, and the M&A market is no exception. In the Q2 survey, we explored how our industry perceives AI, the current adoption rates of AI-powered tools, and the diverse ways in which AI could transform the way we work. While some see promise, others remain cautious.
Risk & Reward:
Our survey reveals that nearly half the professionals in our industry (42%) view AI as an opportunity. They recognize its potential to revolutionize processes, improve decision-making, and enhance overall productivity.
On the other hand, 5% of respondents perceive AI as a threat. For them, AI represents an unknown landscape, with uncertainties and potential pitfalls. Striking a more balanced perspective, 39% of respondents see AI as both a threat and an opportunity.
Despite the growing enthusiasm around AI, the majority of advisors (55%) have yet to utilize this technology. Here’s how others are currently using AI:
- 10% are using AI for customer service, including chatbots and virtual assistants
- 9% are using AI for natural language processing tasks, such as writing assistance
- 8% have AI incorporated into their customer relationship management (CRM) tools (e.g., Salesforce’s Einstein, Zoho’s Zia)
- 4% are using predictive or data analytics tools (e.g. RapidMiner, Alteryx)