Simon Binney: The advice sector needs AI - it just doesn't know it yet

Gains to be made

clock • 6 min read

Ignore what the doom-mongers have to say about artificial intelligence, argues Simon Binney, the financial advice sector has nothing to fear from its introduction and everything to gain

It is tempting to call anyone resisting the advent of artificial intelligence (AI), and its effect on the workplace and job market, a Luddite. That, however, would be an inaccurate analogy. Luddites were not afraid of the actual technology but that their craft and artisanal skills would be replaced by machinery that would probably do a worse job while costing the owners less money. That is why the unrelenting march of AI in today's world is different. AI today is designed to do the exact opposite - alleviating the workforce of mundane activities while freeing people up to spend valuable ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Technology

Real-time evaluation: Let AI be your portfolio's personal trainer

Real-time evaluation: Let AI be your portfolio's personal trainer

Technology is transforming the landscape of portfolio management

Tony WIlkinson
clock 03 October 2024 • 3 min read
AI scepticism among the financial advice industry declines

AI scepticism among the financial advice industry declines

One third of advice professionals are using AI in their businesses

Isabel Baxter
clock 20 September 2024 • 1 min read
Only one-quarter of advisers satisfied with current tech stack

Only one-quarter of advisers satisfied with current tech stack

Advisers urge providers to facilitate better back-office integrations

Isabel Baxter
clock 19 September 2024 • 2 min read