AI, or at least AI talk, is everywhere and financial services is no exception. Apart from its effect on stock markets and investments – the US Mag 7 Big Tech companies will rule the world, oh, no, maybe it’ll be China etc. – its potential effect of the way we advise, or at least the way you could be advised, is an equally hot trade press topic. Not enough people take financial advice, not enough pay not enough into pensions and there are not enough advisers who can advise them affordably, are the cited problems. Could more sophisticated versions of those ‘Hello, I’m Cedric/Cynthia or whatever, how can I help you?’ online chatters bridge the gaps? Hmm…what’s the first thing you want when you ‘interact’ with a ‘bot’ online or on the ‘phone? To talk to an actual person. More so, I’d say, when there’s money involved, especially your own hard-earned. I’m pretty confident that we actual people will still be a big part of the advice picture; with a little background help from Robbie or Roberta the Robots, perhaps.
“Pensions minister: ‘we have created saving pots, but not a pension system’”
The OBR (Office of Budget Responsibility, as opposed to the OBI, often said to be housed in No.11) said this week that pensions were one of the biggest problems to be faced by this and future governments.
