AI adoption is rising, but most firms aren't ready to scale it

Canadian wealth management firms are increasing their use of artificial intelligence. New global research from Montréal-headquartered CGI suggests that adoption is outpacing readiness – and that gap is where technology investments stall.

While CGI’s findings are drawn from interviews with more than 1,800 executives worldwide, the patterns they identify map directly onto challenges Canadian advisory firms are navigating.

CGI (TSX: GIB.A) released findings from its 2026 Voice of Our Clients study on June 18, 2026. The research draws on in-depth interviews with business and technology executives globally, the majority of whom are C-level.

What the research on AI adoption found

Three findings stand out from the CGI study:

• GenAI implementation has increased by 30 percentage points over the past two years
• 62 percent of organizations are now applying AI to core business and operational processes
• Only 40 percent of organizations have an enterprise AI strategy – and of those, just 20 percent extend it across their broader ecosystem

The readiness gap is even more pronounced when it comes to results. Only 51 percent of organizations surveyed said they quantify the outcomes of their AI adoption.

For financial advisory firms, that last figure is worth examining. Deploying AI tools without measuring their impact makes it difficult to justify continued investment or identify where value is actually being created.

As WPC has previously reported, investors may not see the benefits of AI adoption as most firms fail to show ROI. This challenge mirrors what CGI’s data surfaces at the enterprise level.

The talent and legacy systems problem in AI adoption

CGI’s research identifies two operational constraints directly relevant to wealth management firms.

First, legacy systems: 45 percent of executives say outdated infrastructure significantly challenges their data and AI strategies.

Second, talent: nearly 70 percent of executives report difficulty recruiting IT professionals. A further 52 percent say talent shortages are materially affecting program delivery and execution.

These are not abstract concerns. Canadian firms are already preparing for workplaces where AI operates alongside employees. But finding the people to build and maintain those systems is a persistent barrier.

“Executives are navigating an environment defined by rising complexity, from regulatory pressures to fragmented systems, while still being expected to deliver measurable outcomes,” said Tim Hurlebaus, CGI President and CEO. “Our 2026 Voice of Our Clients insights show a clear evolution toward digital engineering and reengineering initiatives.”

What advisors and firm leaders should take from this

The report points to three responses organizations are pursuing:

• Consolidating toward fewer, trusted technology partners capable of end-to-end delivery
• Shifting toward managed services models to close execution gaps
• Prioritizing modernization of foundational data infrastructure before adding new AI tools

That last point is worth a closer look. As Dave Henderson, Chief Technology Officer for CGI, noted, “The opportunity lies in helping organizations move beyond isolated AI use cases toward embedding AI into complex enterprise environments.”

The uncomfortable truth about AI in Canada’s wealth management industry is that adoption statistics often obscure readiness. CGI’s global data reinforces that finding at scale.

Tech and digital acceleration remain the most cited macro trend in the CGI study, named by 70 percent of executives. At the same time, only 25 percent rate their current operating models as highly agile.

Investing in AI tools without addressing data infrastructure, legacy systems, and talent gaps is unlikely to produce the returns those investments are meant to generate.

For more on how Canadian wealth management firms are adopting and integrating AI, explore Wealth Professional’s wealth technology coverage.