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Something revolutionary has happened. Suddenly, anyone with an internet connection, armed only with the ability to hold a conversation in a chat app, could wield the transformative power of artificial intelligence (AI). After the debut of ChatGPT, AI continues to become ever more deeply intertwined into our lives and businesses. But AI comes with a...

Family-owned businesses are an important part of the economy, and they face unique challenges due to the dynamics of family relationships. With family members involved in both ownership and management, decision-making processes can be complex and challenging, so it is crucial that family-owned businesses develop governance structures before a need ...

The growth of ChatGPT and other artificial intelligence (AI) tools is not slowing down. From small startups to multinational corporations, employees across the spectrum are leveraging ChatGPT to enhance their productivity and streamline their workflows. Given the potential risks—including confidentiality and personal data and privacy violations—ass...

The use of artificial intelligence (AI) continues to spread with a staggering speed as it reshapes industries through improved efficiency, productivity, and decision-making. However, the meteoric rise and adoption of AI technology—including ChatGPT—can overshadow some valid concerns around security and privacy. Addressing those concerns, this repor...

Artificial Intelligence (AI), which is being considered “The Fourth Industrial Revolution,” is the latest innovation and technology disruption fueling growth and reshaping societies alike. While there are investment opportunities where big winners are reaping the benefits of AI, the future of AI remains uncertain. In this early stage of AI advancem...

In moving past the “shirtsleeves to shirtsleeves in three generations” adage, advisors in the family wealth space are emphasizing the importance of the family’s qualitative capitals that go beyond serving only the financial capital goals. This shift has elevated the family client experience and expectations. It’s part of the Wealth 3.0 movement tha...

With the varied viewpoints, personalities, and emotions of UHNW family members, finding consensus can be a difficult topic, yet it is imperative to reach goals and move ahead. Gain insight into the structure and practices required for consensus and consider real-life situations resolved using these techniques. ...

The evolution of cybersecurity threats is increasing at a rapid pace and becoming more sophisticated as they leverage the same advanced technologies and methodologies as cyber defense tools. No longer are cyberattacks focused primarily on financial incentives, they are also aiming at maximizing operational disruption. With the continuing cyber t...

Since 1986, Byron R. Wein gave his views on a number of economic, financial, and political surprises for the coming year. By “surprise,” Byron defined it as an event that the average investor would only assign a one out of three chances of taking place but which he believed had a better than 50% likelihood of happening. Paying homage to Byron’s ann...

Technology within the family office and wealth management industry is changing rapidly. Software applications are changing how we will work and are delivering new ways to implement and integrate reporting, communication, and aggregation. Suppliers are learning from each other and teaching us how to approach and apply newer technologies. Take a glim...

While the artificial intelligence (AI) transformation is a part of the larger digital change, it’s taking on a life of its own. Even if a company can adapt to the change, it doesn’t mean it’s ready for AI. There are many more considerations, and it requires a different approach where the audit committee plays a crucial role that will bring valuable...

Dive into Artificial Intelligence (AI) governance with Grant Thornton’s concise video series that are designed for board members and senior executives. The four short videos summarize insights on the challenges and opportunities of AI board governance. From understanding the need for “AI circuit breakers” to tracking risks and accountability, and f...

The State of the Art in Family Wealth Management is a great resource for those who need to better understand what it means to be an “enterprise family” and understand how to work within a Family Enterprise Framework. Inside you’ll find the big picture view of the work that families need to be prepared to do, where families need to focus their ...

The future of IT is changing and adapting to a cloud and artificial intelligence-enabled world that includes the exponential shift from on-premises to IT consumed as a service (XaaS) and accelerating data centricity. To face these challenges and drive successful digital competitive advantages, IT leaders and teams will need to master the six key pr...

Cybercrime has become more advanced over the years, but the level of sophistication could take a quantum leap forward with the explosive growth of generative artificial intelligence (AI) that can easily mimic a real person’s voice or create a scam website that looks exactly like a real one. The threat is keeping security professionals up at night. ...