Warnings about taking advice purely from artificial intelligence have been sounded after OpenAI launched financial planning tools in the US market.
Intelliflo CEO and co-founder Nick Eatock said the launch of ChatGPT's financial planning tool in the US shows "just how quickly public appetite for AI-driven financial guidance is growing" but warned guidance and advice were very different things. However, he warned: "AI can process information, but it can only work with what it's given. Most people simply don't know what a complete financial fact find requires. To provide comprehensive financial advice, you need to understand the nuances of their pension provisions, protection gaps, tax position, estate planning needs, or how a life ev...
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