Financial advisers “need to wake up and smell the coffee” if they believe artificial intelligence (AI) is not going to take over their jobs, Financial Technology Research Centre founder and director Ian McKenna said.
Speaking to Professional Adviser, McKenna said the financial advice industry "has been engaged in a lie that technology can never do what advisers do". "Advisers are resistant to change, particularly the older advisers, which is why AI will be a catalyst for them," he said."We will see AI bots giving financial advice, and if you think it's not going to happen then you need to wake up. "AI is the greatest opportunity, but if you ignore it, it's the biggest threat." McKenna also warned that AI is affecting all industries, and this is not just about financial advice. He urged advisers...
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