“Advisers should not fear being replaced by AI”

Sep 19, 2024 | Pensions, Retirement

An independent (financial adviser’s) view

Until I read this, I hadn’t worried that I or any of my ilk might be replaced by robots, or AI at least, which to many a mind is the same thing. I remember Hal the computer in 2001, and of course the Daleks, although I think they’d be more likely to exterminate than advise. It should be the case that AI can help with or take over many of the repeatable processes which are required but time-consuming in our business; the production of those multi-page, regulatory back-covering suitability reports would be a prime example. AI is perhaps most needed by the big, corporate investment and pension providers, who, with huge IT departments, should be best placed to utilise it. Most, however, are still stuck in the 1980s, sending us a dozen or more letters each day; which we scan and bin, in despair. Not much hope there.

Read more here

“HMRC: ‘digitalising tax process could close gap’”

“HMRC: ‘digitalising tax process could close gap’”

You, like a majority of both taxpayers and accountants, may have been sweating and cursing over a keyboard last week to submit a last-minute tax return. Many by the end of that accursed process will have been shouting ‘bring back paper!’, a vain and pointless hope, I’m afraid.