Generative AI is helping consumers articulate legitimate concerns, but it is also producing lengthy, authoritative-looking complaints whose complexity may greatly exceed their evidential substance. The FOS reforms announced this week could not be better timed, writes Mark Buck
A complaint landed on my desk earlier this year. It contained several distinct heads of complaint covering investment performance, suitability, Consumer Duty, data protection, vulnerability, adviser conduct and compensation. Some raised matters that properly required investigation. Others rested on assumptions about our processes that could be checked relatively quickly. I have no way of knowing whether artificial intelligence wrote it, and I am not going to guess in print at how a client produces their own correspondence. What I can say, without naming anyone or reproducing a word...
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