Artificial Intelligence in Financial Services: Convenience or Threat?
The use of artificial intelligence in financial services has sparked a heated debate. While some argue that it can bring about convenience and improve operations, others see it as a potential threat that could lead to job displacement, biased decision-making, and increased vulnerability to cyber-attacks.
In this episode, Bryan will share his informed perspective on the use of AI in financial systems and annuities, offering his unique insights and analysis on this important issue.
What You’ll Learn from This Episode:
[2:08] Can AI in financial services be considered a convenience or a potential threat?
[5:40] To improve efficiency and reduce expenses, various major tech companies are leveraging AI for business automation.
[8:42] Tips on how to locate annuity recommendations effectively.
[9:12] What are the potential outcomes of receiving automated annuity recommendations from a system?
[10:08] Comparing suitability standards to fiduciary standards.
[10:39] Is it feasible for artificial intelligence to arrive at a decision that meets fiduciary standards?
[14:39] Understanding the risks associated with AI.
Key Quotes:
[8:20] “I would not be surprised when one day they will be replacing agents with computers.”
RESOURCES:
AI In Financial Services Newsletter
GET IN TOUCH:
Use the online scheduler to book a personalized consultation with Bryan
