Louis Williams looks at the developing world of AI and explains why emotional intelligence in advice has never been more important
The progress of artificial intelligence (AI) in recent years has led to the increase of digital advice within our industry. However, research showed that despite these developments, 73% of respondents had a preference for advice from a human, with 71% concerned that robo-advice would not be appropriate for their financial needs, according to data from Openwork in 2022. There are two major factors that may lead to these findings, firstly, a robo-adviser will have a limited understanding of a client's needs and objectives which may result in solutions that are not entirely appropriate. Sec...
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