Simon Binney: Why machine learning is healthy for your clients and PI

The beauty of AI

clock • 5 min read

At a time when risk is becoming the dominating concern, writes Simon Binney, artificial intelligence and machine learning are capable of providing the DB advice arena with a much-needed lifeline

Pension freedom brings both the good and the bad. As the demand for advice increases, for example, so grows the risk advice firms have to shoulder when it comes to advising on potential defined benefit (DB) transfers. Based on well-known stories, we already know this is a complex area where the financial consequences of poor advice can be massive. We also know nervous insurers are circling the advice sector in a bid to evaluate these uncharted waters. The danger is that firms are tempted to throw the baby out with the bathwater. The focus should always be on what is best for the clien...

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

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
IFA network partners with JustFA to increase digital engagement

IFA network partners with JustFA to increase digital engagement

Powered by Seccl’s technology to serve clients who prefer digital experiences

Isabel Baxter
clock 19 September 2024 • 1 min read