Australian family offices are rapidly embracing technology to enhance value creation, as highlighted in a recent KPMG report. Eton Solutions, a co-sponsor of this KPMG and The Table Club family office technology report, is committed to supporting the education of the family office community and advancing the understanding of how generative AI can enhance operations and reporting globally.

Eighty-four percent of family offices now rely heavily on technology, marking a five-fold increase in adoption since 2021. The use of Excel has dropped significantly, with only 13% of family offices still using it compared to 43% in 2021. While cloud-based data storage is widely adopted, generative AI usage remains low, with only 8% of family offices leveraging it. Additionally, 56% of family offices cite key person risk as the primary driver for outsourcing technology solutions.