Family Offices Lag in AI Adoption Despite Vendors' Advancements
News related to:Simple · 2 min read
COPENHAGEN, DENMARK, November 10, 2026 /CourierPR/ -- A new report from Simple, the leading family office technology and AI advisory, reveals that while vendors are rapidly advancing in artificial intelligence (AI) technology, family offices are still predominantly using manual methods. The findings, detailed in Simple's 2026 Family Office Software & Technology Report, highlight a significant gap between the capabilities of AI tools and their actual use in family offices.
According to the report, which is based on insights from 57 family offices and 44 software vendors, family offices are currently using AI mainly as an assistant for tasks like email, documents, and research. However, vendors are developing more advanced automation and autonomous agents, which are still in early stages or pilot phases. The report, which was gathered through workshops attended by around 300 people and surveys between September 2025 and October 2026, also notes that data quality and limited internal capacity are major barriers to AI adoption.
One of the primary challenges family offices face is the difficulty in getting clean information into and between systems. Despite having portfolio management systems in place, some offices still assemble reports by hand. This manual work is a significant obstacle to the full integration of AI technologies.
In terms of software selection, family offices continue to rely on references from peers and established relationships. Referrals remain a critical way for providers to reach new clients. Security is another key consideration in the selection process, both as a concern for family offices and as a criterion for assessing software.
Once a system is selected, limited internal capacity and skills are the biggest implementation hurdles. Vendors typically quote two to four months for implementation, with longer timelines where extensive historical data or numerous banks are involved. Some offices depend on one or two experienced users to make their systems work, creating vulnerabilities when those individuals are unavailable or leave the organization.
Responsibility for ongoing operations also varies. Family offices often outsource IT to external providers, while reporting remains in-house. Alongside decisions about buying software, several offices are now building their own tools for the first time.
The promise of AI is to fill these gaps, but trust in how AI handles sensitive information remains a significant constraint. Privacy is the leading AI concern, with offices asking where family data goes and who can see it. Vendors are responding with approaches that keep AI within their platforms or the client's environment, or exclude sensitive work.
The gap between AI development and adoption also reflects what family offices want from the technology. Vendors have developed chatbots that allow users to interact with their data, but offices describe limited use because these features do not appear to deliver the efficiency gains they are seeking.
Simple's platform, which has more than 12,000 users, provides further insight into the needs of family offices. The report draws on Simple's work with the family office sector over the past year, including workshops attended by around 300 people. It incorporates qualitative input from 57 family offices and insights from 44 software vendors, gathered through interviews, workshops, and surveys between September 2025 and October 2026.
The full Family Office Software & Technology Report 2026 is available for free on Simple's website: https://andsimple.co/reports/family-office-software.