Analysing AI’s Impact on Financial Advice, Part 3

Throughout this series, I’ve outlined the key functions being automated through AI, from back-end processes to customer-facing apps and platforms. Viewing AI as an enhancer rather than a universal solution is important, so the key is in…

Balancing Capabilities Across Humans and Bots

The rise of interactive large language models (#LLMs) democratises access to knowledge. This leads to flattening organisational structures while proliferating best practices and policies. Moreover, AI technology’s ability to extract information from emails, recorded discussions, and other resources helps build a valuable repository of organisational insights, making it easier to onboard new talent or customers.

Instead of viewing AI as a substitute for human advisers, we must recognise their potential to reduce service costs, improve efficiency, and deliver more tailored customer experiences. However, financial advisers should focus on cultivating organisational AI literacy to prepare for the impact of LLMs. This could encourage staff to use AI models, provide training, develop strategies for leveraging technologies, and rethink structures to address #futureskillneeds and be more responsive.