AI in Financial Services – The Human Element is Still Essential
The role of AI in financial services – like many other industries -- has been increasing and will likely continue to expand. And it serves many purposes – it can help financial firms combat fraud; it can optimize customer experiences across platforms. And AI allows firms to automate certain aspects of running the business, especially back office and operational functions. And in many cases, financial professionals will use AI as they have other new technology over the years, allowing them to be more efficient and spend more time with clients.
But we firmly believe that the most important aspects of financial planning are rarely black and white. Providing financial guidance is much more nuanced and informed by each client’s goals, time horizon, risk tolerance, and, of course, emotional factors. We believe it is our job to strike the balance between financial data and a sense of empathy and understanding. We are in the business of building both legacies for and relationships with our clients.
We’re all for AI making us more efficient, so we can be more efficient for you.