Why AI will never replace adviser/client relationships

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...