Amazon, like Musk, and Branson before them both, can afford to try lots of stuff and fail at some. Famously, the only part of Amazon which makes money is that which provides a huge part of the world’s internet servers. That makes extremely large amounts of money, right place, right time, and can subsidise all sorts of other disruptive ventures. Branson did the clever thing and sold them with his brand name still attached (Virgin Money, Virgin Media etc). They then, of course, have to make money in their own right. Whether the Amazonians will do the same thing, or will instead carry on disrupting, is another question. They could, meanwhile, cause quite a bit of disruption in certain parts of the financial services world. Watch this space, I’d say.
“Majority of IFAs have no plans to use AI in their practices”
I remember sometime in the 90’s, attending a presentation by a successful adviser providing helpful hints to an audience of wannabes, young and old.
