HCL Technologies Limited released a first-of-its-kind AI-based synthetic research study on September 28, 2026, highlighting a critical readiness gap in the global wealth management industry. The report finds that while 84% of firms acknowledge the need for an operating model reset, less than 10% are prepared to execute the shift.

The study, titled "Hidden In Pl(AI)n Sight," utilized 1,066 representative AI personas modeled on senior decision-makers across 17 global markets. It reveals that although 98% of leadership teams are actively pursuing an AI agenda, only slightly more than 7% are actively building agentic AI capabilities. This disparity underscores that AI transformation is currently hindered by structural inertia rather than a lack of technological interest.

Key blind spots identified

The research identifies three critical blind spots preventing wealth management firms from converting AI enthusiasm into measurable business outcomes:

1. Ambition blind spot: Firms recognize the need for transformation but continue to fund AI primarily for efficiency gains rather than strategic redesign.
2. Execution blind spot: Significant investments in technology are not mirrored by investments in proprietary client data and insights, which are essential for competitive advantage.
3. Strategy blind spot: Firms track AI adoption rates but fail to measure its impact on growth, revenue, and client value.

Srinivasan Seshadri, Chief Growth Officer and Global Head of Financial Services at HCLTech, noted that the industry faces a "choices problem" rather than an investment problem. He highlighted that while 84% of leaders want a fundamental redesign, just 12% are measuring the new revenue that such a redesign should produce.

Regional readiness disparities

The study indicates varying levels of confidence across different geographies regarding the orchestration of AI, human expertise, and ecosystem partners. Executives ranked first-party and behavioral data as a more valuable differentiator than technology infrastructure or cloud platforms.

This divergence suggests that European firms may lag behind their APAC and North American counterparts in integrating AI with human expertise effectively.

What the numbers show

A significant divergence exists between strategic intent and operational measurement. While nearly all leadership teams (98%) have an active AI agenda, the low adoption of agentic AI (7%) combined with the lack of revenue impact tracking (12%) indicates that most initiatives remain superficial. The data suggests that without shifting focus from efficiency to fundamental redesign, the majority of investments will fail to generate measurable business outcomes.

Methodology and partnership

Conducted in partnership with Evidenza, the report represents one of the wealth management industry's most comprehensive applications of synthetic research to date. The methodology employed AI at scale for speed and breadth, while subject matter experts validated findings to ensure credibility. Jill Kouri, Global Chief Marketing Officer at HCLTech, described this approach as a demonstration of responsible AI in action, combining machine scale with human judgment.

The report concludes that lasting competitive advantage will come from firms that combine AI with their most unique assets: decades of proprietary client knowledge, human expertise, and strong ecosystem partnerships.

HCL Technologies has been selected by M Group to lead an AI-driven IT transformation across more than 200 locations, leveraging the AI Force service platform to enhance IT operations and accelerate digital transition.

Partnership overview

The engagement positions HCL Technologies as M Group's technology partner for a wide-scale IT overhaul. The deployment of the AI Force service platform is central to this initiative, designed to streamline and enhance IT tasks across M Group's extensive network of locations. This win extends HCLTech's track record in essential infrastructure, where operational continuity and regulatory compliance leave little margin for error.

AI Force platform at the core

The AI Force service platform will serve as the primary enabler of M Group's digital transition. By applying AI-driven capabilities to IT operations, the platform aims to bring greater efficiency and speed to technology functions spanning the organisation's more than 200 sites. The program will also accelerate broader digital transformation across M Group's water, energy, technology and communications, transport, and defense, industrial and public sector business lines.

Scope of transformation

The initiative spans IT change management and operational enhancement, with the AI Force platform central to accelerating M Group's broader digital agenda. The scale of the engagement, covering over 200 locations, underscores the breadth of the transformation programme undertaken by the two organisations. Through AI-led managed services spanning infrastructure and end-user operations, HCLTech will strengthen resilience and build a scalable digital foundation for growth.

Executive commentary

Chloe Anfield, Chief Technology Officer at M Group, stated that the partnership with HCLTech brings a new level of service for every team member in the field and in the office. She noted that the collaboration aims to enhance the quality, reliability and scalability of IT operations, supporting innovation and sustainable growth across the business.

Ajay Bahl, Chief Growth Officer and Global Head, Energy and Manufacturing at HCLTech, emphasized the responsibility of modernizing the IT backbone behind critical infrastructure. He highlighted HCLTech's deep experience in complex, multi-site environments and its commitment to ensuring M Group's technology keeps pace with sector demands.