For now, there’s a case for partnership between advisors and AI tools
Robots don’t get tired. They don’t get annoyed with clients. They can operate at all hours of the day, including weekends and holidays. Does that qualify them to offer financial advice?
With those limitations in mind, though, the panellists saw big opportunities for AI as a tool for advisors. Parameters can be built into the agents, limiting the type of questions they’re able to answer and leaving room for a human element. As with most discussions about AI, this one turned to the case for a time-savingOne potential benefit is personalization at scale that would allow more people to access financial advice.
Advisors often focus on what they’re good at and what’s made them successful. That can mean committing time to the same 20 per cent of clients and speaking to them in more or less the same way, she said. Technology can help advisors see more and be more proactive with a broader client base. Similarly, compliance departments may soon be able to use AI tools to help predict issues. And similarly, that’s unlikely to leave chief compliance officers jobless.
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