根据一项最新调查，85%的家族办公室将人工智能列为首要投资主题，尽管其中75%的受访者预计人工智能泡沫将在未来五年内破裂。这项针对155家北美家族办公室的民意调查由加拿大皇家银行财富管理公司（RBC Wealth Management）和坎普登财富公司（Campden Wealth）共同进行。
Eighty-five percent of family offices rank artificial intelligence as their top investment theme, despite 75% expecting an AI bubble to burst within the next five years, according to a new survey. The poll of 155 North American family offices was conducted by RBC Wealth Management and Campden Wealth.
加拿大皇家银行的比尔·林厄姆（Bill Ringham）表示，这种对人工智能的复杂情感可以追溯到几个潜在因素，包括对该技术的谨慎乐观以及对错过投资热潮的担忧。
RBC's Bill Ringham said these mixed feelings about AI can be traced to several potential factors, including cautious optimism about the technology and concerns about sitting on the sidelines of an investment boom.
这位私人财富策略总监表示：“即便是耐心资本也可能陷入错失恐惧之中。”
"Even patient capital can be caught up in the fear of missing out," said the director of private wealth strategies.
共有85%的受访者将人工智能列为可能在未来12个月、未来两到五年或这两个时间段内回报投资者的资产类别或投资主题。第二受欢迎的选择是美国股票和直接投资，分别被76%和72%的受访者选中。
A combined 85% of respondents ranked AI an asset class or investment theme likely to reward investors over the next 12 months, the next two to five years, or both. The next most popular picks were U.S. equities and direct investments, selected by 76% and 72% of respondents, respectively.
然而，尽管人工智能以59%的比例成为2026年的首要投资主题，但家族办公室表示，从长远来看，他们更看好美国股票。当被问及未来两到三年的回报时，69%的受访者选择了美国股票，而人工智能为64%。直接投资紧随其后，占62%。虽然只有26%的家族办公室表示房地产可能会在未来12个月内回报股东，但近两倍的受访者（51%）选择它作为两到五年周期内有回报的投资。
However, while AI was the top investment theme of 2026 at 59%, family offices said they were more bullish on U.S. equities in the long run. When asked about returns over the next two to five years, 69% of respondents chose U.S. equities compared to 64% for AI. Direct investments closely followed at 62%. And while only 26% of family offices said real estate was likely to reward shareholders over the next 12 months, nearly twice as many (51%) picked it as a rewarding investment in the two- to five-year horizon.
林厄姆表示，这些结果可能反映了人工智能的热情是如何更多地影响投资者短期关注点而非长期策略的。
Ringham said the results may reflect how AI enthusiasm is influencing investors' short-term focus more than their long-term strategy.
他说：“错失恐惧是一种短期视角。你认为人工智能在未来12个月内将成为重中之重。但他们的长期眼光又转了回来。”林厄姆表示，家族办公室对人工智能持谨慎乐观态度，特别是在初创企业领域。
"Fear of missing out is a short-term view," he said. "You're seeing AI over the next 12 months as being that top priority. Their long-term look swings back." Ringham said family offices were cautiously optimistic about AI, especially in the startup space.
他说：“这些乐观主义者也不怕说未来可能会出现泡沫。你投资的是你认为在长期内会取得巨大成功的东西。但在这个阶段，有这么多新公司，你真的必须睁大眼睛去对待这些事情。”罗伯特·弗兰克（Robert Frank）撰写的《财富内部》（Inside Wealth）新闻通讯是您了解高净值投资者及其服务行业的每周指南。
"Those optimists are also not afraid to say that there might be a bubble down the road," he said. "You're investing in what you think is going to be incredibly successful in the longer term. But at this stage, there are so many new companies that you really have to go into these things with your eyes wide open." The Inside Wealth newsletter by Robert Frank is your weekly guide to high-net-worth investors and the industries that serve them.
点击此处立即获取访问权限 调查发现，76%的受访者将“过度政府借贷”列为未来五年最可能显现的主要市场风险。紧随其后的是“人工智能投资泡沫破裂”（75%）和“人工智能进步对就业的影响”（66%）。
here to get access today The survey found that 76% of respondents ranked "excessive government borrowing" as the top market risk likely to crystallize over the next five years. That was followed by "AI investment bubble burst" (75%) and "AI advancements impact employment" (66%).
虽然调查并未询问家族办公室计划如何改变其围绕人工智能的配置，但林厄姆表示，许多资产类别都受到了该技术的影响。31%的家族办公室计划对私募股权进行更多直接投资，略多于五分之一的家族办公室对房地产和风险投资作出了同样的表示。他说：“我确信人工智能已经嵌入到许多这些基础类别中。”
While the survey did not ask how family offices planned to change their allocations around AI, Ringham said that many asset classes are touched by the technology. 31% of family offices planned to make more direct investments in private equity and just over a fifth said the same of real estate and venture capital, respectively. "I'm sure AI is embedded in a lot of those underlying categories," he said.