Latest Poll – AI as Part of the Solution?

Our latest poll challenges you to consider the impact that artificial intelligence will have on your advice business in future.

This conversation flows from our report on the vision shared by Vital Business Partner’s David Carney, who predicts a future in which every financial adviser will be working with an AI ‘co-pilot’ (see: How AI Can Transform Advice Practice Efficiency).

We’re effectively asking how much faith you place in the emergence of Artificial Intelligence as a practical, working solution for your business – a development which will materially contribute to delivering greater efficiencies for you.

We’re talking here about both AI and Generative or ‘Gen’ AI, which is artificial intelligence technology that can create new content and data in formats including text, images, video and audio files.

…it’s assumed greater efficiencies will lead to enhanced productivity

If AI technology can significantly contribute to greater efficiencies leading to a reduction in the cost of advice, then this development should – by extension – also offer the opportunity for advisers to be more productive in serving existing clients and increase their capacity to serve more clients. Hence our poll question, where it’s assumed greater efficiencies will lead to enhanced productivity.

Some advice businesses and AFSL firms have already embraced AI technology in their businesses, while the opportunities presented by AI only present as a blurred future possibility for other advisers and advice businesses who are still coming to grips with understanding both the extent to which this new technology can contribute to their business and how to actually implement it.

We welcome your thoughts on this question and will report back next week…