Artificial intelligence (AI) is a powerful tool that can help save time and solve “regulatory problems” for the advice industry, according to Schroders.
Speaking at Schroders' Manchester Investment Conference today (14 May), head of UK public policy Rich Fox told delegates that AI can help with regulation by facilitating more detailed record keeping, in line with the Financial Conduct Authority's (FCA) Consumer Duty regulation. Fox explained that AI will give advisers "a platform to explain the value of advice to the FCA". "If we can solve the problem of record keeping, then we can demonstrate what we value the most," he said. "The time you spend with clients can become even more valuable because AI can help with saving time." Fox ...
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