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Arthur D. Little

Arthur D. Little has been at the forefront of innovation since 1886. We are an acknowledged thought leader in linking strategy, innovation and transformation in technology-intensive and converging industries. We enable our clients to build innovation capabilities and transform their organizations. ADL is present in the most important business centers around the world. We are proud to serve most of the Fortune 1000 companies, in addition to other leading firms and public sector organizations. For further information, please visit www.adlittle.com

AIG pumps up digital at asset-management unit

In Action Summary

In Q2 2017, AIG’s Valic, its digital services unit reached US$99.2bn from US$95.2bn in assets under management at the start of the year. Although AIG has invested plenty of time and money creating digital services at Valic, it is now seeking new ways to use AI, data/analytics and the computational algorithms behind robo-advising platforms to cater to specific clients in the individual retirement business. Valic has 1,000+ financial advisers and recently joined up with startup firm RetireUp to use new software in March.

According to research by Aite Group, the digital advice market will reach US$1tn by 2020 and under Brian Duperreault, AIG’s current CEO, the  group is embracing technology on all fronts to streamline operations and forge relationships with multiple online wealth management platforms.

AIG has said of the renewed focus on wealth management platforms:  “An important part of our strategy is to make sure that we’re at the leading edge of how to work with those organizations. Robo advisors are a re-affirmation of  how big the retirement opportunity is in the US

Ultimately, the proliferation of AI-based services from chatbots to customer authentication and now financial planning robo services represents a paradigm shift for industry incumbents such as AIG. In the face of such disruption, the aggressive investment into robo-advisory by AIG is a signal of their belief and commitment to self-disruption i.e the ability to renew one’s own capabilities before new entrants gain traction.

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