The AI ship has sailed and pension providers are still sitting on the shore

The UK government's Financial Services AI Adoption Plan, published on 14 July, captured the problem facing financial services firms: consumers are routinely turning to general-purpose AI tools for financial decisions, yet cannot access equivalent features from their own regulated providers. The FCA's Mills Review, also published earlier in the month, explains why that gap exists and what needs to change. Most boardrooms are reading it as a regulatory signal, but it is also confirmation that consumer behaviour has quickly shifted, and that much of the industry has not kept pace. Accord...