PA360: Potential pitfalls for advisers amid push for AI integration

Advisers must be not be ‘deceived into believing AI can solve all problems’

Sahar Nazir
clock • 1 min read

Advisers have been cautioned against overlooking challenges and potential pitfalls when integrating artificial intelligence (AI) into their business.

Speaking at PA360 today (25 April), Defaqto chief executive (CEO) John Milliken said AI is undergoing a series of developments and highlighted the allure of AI as a solution to numerous challenges and the opportunities it presents for businesses to harness its power. However, he cautioned against falling into the trap of overestimating AI's capabilities, particularly with generative AI, warning that the technology "might deceive us into believing it can solve all problems". "We might be fooled into thinking AI can do everything," Milliken said. Model Office founder and CEO Chris Da...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Mel Stride awarded shadow chancellor in Badenoch shadow cabinet reshuffle

Mel Stride awarded shadow chancellor in Badenoch shadow cabinet reshuffle

Some leadership rivals awarded roles

Linus Uhlig
clock 05 November 2024 • 1 min read
FCA warns of 'growing concerns' on SIPP operators

FCA warns of 'growing concerns' on SIPP operators

SIPP firms warned on Consumer Duty failings, asset protection gaps, and oversight

Sahar Nazir
clock 05 November 2024 • 2 min read
Autumn Budget 24: 'Surprise' IHT on pensions puts advisers on high alert

Autumn Budget 24: 'Surprise' IHT on pensions puts advisers on high alert

Unexpected IHT shift to include pensions has left advisers racing to adapt estate strategies

Sahar Nazir
clock 04 November 2024 • 3 min read