Three predictions for the future of AI
Remember the advent of robo-advisors?
While generative AI will be similar, in that it won't be a “big bang” that replaces advisers, it will be more transformative, said Cory McCruden, managing director of wealth and asset management at Ernst & Young, during AI Assembly. .
McCruden said most enterprise application advisors already interact with a conversational or workflow AI.
“Part of the reason it's taking off is because it's human and intuitive,” she said. “You don't need to go to another application or start another workflow. It's integrating seamlessly.”
She offered three predictions for the future of generative AI in the wealth management industry, including:
- Consultants will dramatically expand their digital marketing footprint by using personalized content in a compliant manner.
- Advisors will provide products and services tailored to individual clients.
- The next generation of advisors will quickly become more productive and experienced.
Note: This live blog will be updated throughout Wealth Management EDGE