Technology and AI cited as a serious threats to paraplanners

Speaking to delegates at the Chartered Institute for Securities & Investment's Financial Planning Conference 2023, director Rebecca Kowalski said AI-based technology such as ChatGPT "does not work" for paraplanners as "things change everyday and AI is not always up to date". Plan Works director Nathan Fryer, who offers paraplanning services to IFAs, noted St James' Place was "already using AI for ISA top ups" which he said worried him. "The biggest threat that AI presents is the lack of security," Fryer explained. "You cannot feed client data into ChatGPT." He added that AI will ne...