AI Is Here. What Does That Mean For You? | Matt Reiner – Finance & Tech

A recent article talked about Morgan Stanley building AI solutions to help advisors better manage clients. And they discussed, in the article, a situation where Alexa gives you an update of conversations that Alexa had with them the night before. AI is already impacting the financial advisor industry.

Hey everyone hope you’re doing well you can see here we’re in our actually temporary space we’re about to move from this office space here in the next month we’re really excited our team is building out some new space just down the street here but you can see it’s kind of a little bit we have no roof up here and we’ve been making this home for a couple of months

But we’re excited to move into our our new home which we’ll be doing some videos from here shortly in the next couple of weeks but this afternoon reading an investment news article is really interesting talking about artificial intelligence and artificial intelligence continues to be on the mind of many financial advisors and the beginning of the article started

Out with alexa kind of talking to you as a financial adviser telling you what your day looks like telling you that they had talked to a client last night and they were worried and set up a schedule for you and then also had identified some other opportunities within your portfolios that you may want to look at and whether if you you wanted alexa to email them or

To set up a call and this actually as crazy as it sounds isn’t too far from being a reality and i think that at times this scares a lot of people but what it shows is that you know people are actually first off thinking about this right because morgan stanley i was actually mentioned in this article actually created a artificially intelligent solution called neck

Specs best action which utilizes a lot of these similar mentalities and ideas so it shows that these are thoughts that aren’t really that far because investment news is already talking about i was able to actually interview other people but what it secondly what it also shows is that technology can actually be a vital resource for us and as we all become worried

About what artificial intelligence may do to us and whether it will replace us we have to rethink that i believe it’s not that it whether it replace us because when it comes to money we’re still gonna need a relationship but what technology and what that example shows us is the opportunity for us to be able to utilize technology to leverage ourselves and scale

Ourselves to where we can provide and be more valuable to our clients and help them understand the rationale and the emotional side of some of these decisions and relate to them and be empathetic to them for that but also what it allows for is for us to be able to be empathetic and rationalize and relate these these situations back to more individual clients and

So this particular article if read by a lot of people i believe that they’re probably 50/50 split some advisors would say this is crazy they’re gonna replace us others will say this is crazy we’ll never have we’ll never see this and i think both sides of that spectrum are aren’t there’s there’s there’s issues on both sides of the spectrum let me say it that way

Because i think what you’re gonna see is something in the middle this is gonna be a solution that’s going to be utilized more and more in a gradual phase it’s not gonna go all the way to one extreme it’s gonna be implemented and bit by bit pieces and it’s going to allow us to better serve our clients as we create a greater client experience with their advisors

Allowing us to provide more and more value to our clients because as we become more financial planning and holistic centric we’re gonna need to utilize technology so that we can continue to manage our book of business and provide the same value to visit person 1 through 150 203 under whatever may be you can check out the link in my in my comments below i’d love to

Get your feedback read the article let me know what you think but not only is it here and people are talking about it but it should be exciting to all of us in the industry because it allow us to impact more and more lives let me know what you think i’d love to see your comments is this something that you and your firm are looking at is it something that you and

Your firm will want i’d love to start a conversation around that have a great rest of the day

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AI Is Here. What Does That Mean For You? | Matt Reiner – Finance & Tech By Matt Reiner