T. Rowe Price Survey Finds Retirement Consultants Expanding AI Use

T. Rowe Price said in a press release that defined contribution consultants and advisers are moving from AI evaluation to practical use. The share of surveyed firms still evaluating AI fell from 44% in 2025 to 14% in 2026.

Among respondents, 78% use AI to improve operational efficiency, 67% use it for client preparation and 47% use it for client outreach. Firms with formal AI governance reported using the technology about 50% more often across business functions.

The study surveyed 36 consultant and advisory firms representing more than 160,000 defined contribution plan sponsors and $10.3 trillion in assets under advisement. T. Rowe Price conducted the research from January 12 to March 11, 2026. It is an asset manager with $1.9 trillion in client assets, about two thirds of it retirement related, and the study's other findings concern retirement products of the kind it sells.