Digital & Technology

DL Family Office Group Innovates with AI-Driven Metaverse for Enhanced Wealth Management

The DL family office group in Hong Kong is exploring the development of its own metaverse to enhance its forthcoming online investment service, which aims to cater to the mass affluent market through the use of artificial intelligence (AI).

This initiative is part of the company's transformation of its asset management branch into the DL Digital Family Office, which intends to offer wealth management services featuring an AI-powered relationship manager. This plan was unveiled in a series of updates last year.

The proposed metaverse by DL is envisioned as a collaborative space for its affluent clients, including business owners, to exchange insights and investment strategies effectively with the aid of AI technology. Wei Hao Kiow, the vice chairman of DL Digital FO, highlighted the potential for this virtual environment to facilitate knowledge sharing among users.

Despite the reduced enthusiasm from major corporations like Disney and Tencent towards metaverse projects recently, Kiow maintains a belief in the metaverse's value as a platform for information exchange. This belief is reinforced by the anticipation of renewed interest following the launch of new virtual reality technology like Apple's Vision Pro headsets.

DL is in the preliminary stages of creating a virtual world akin to a business-focused social network, leveraging investments in avatar technology from an Israeli tech firm. The digital platform, centered around AI, aims to serve affluent individuals who might not meet the higher investment thresholds of private banks or DL's comprehensive family office services.

With the acquisition of the AI analytics firm Chain of Demand for up to $10 million in December, DL plans to enhance its service automation, offering legal and investment guidance while identifying market opportunities. The AI relationship manager will facilitate client interaction without offering direct advice, navigating regulatory constraints by encouraging clients to refine their inquiries.

This approach aims to democratize access to financial advice for the mass affluent, compensating for the limited availability of human relationship managers. By integrating extensive investment knowledge and legal information into the AI system, DL intends to prepare clients for more effective discussions with human advisors, thereby streamlining the advisory process.

The digital family office is set to introduce a 'soft launch' for select invitees around June, with a full launch expected in the first quarter of 2025. The metaverse project will follow, aiming to provide a novel platform for client engagement and advisory services.