There is a “growing demand” for financial advice amidst limited industry capacity and artificial intelligence (AI) offers an “expensive solution”, according to Old Mill head of data Matthew Pollard.
"We don't have the capacity for everyone with access to pensions to receive proper advice," he said. "Artificial intelligence (AI) offers a potential solution, but it's still expensive and underutilised." "As the technology becomes more affordable, its adoption could scale, but significant hurdles remain for time-strapped wealth management firms," he noted. He explained that these wealth management firms, often led by practitioners balancing client work with business operations, face additional pressure to navigate emerging technologies. "They're hearing both success stories and cauti...
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