People + technology: better together
Our mobile phones know us better than we know ourselves. They make lifestyle recommendations and, almost without us knowing it, filter our choices.
According to a Cambridge University study, AI can accurately predict psychological and demographic traits based on only a few social media interactions. More recently, a joint study between Stanford and Cambridge showed that AI can rival even a spouse’s insight into personality. Algorithms are beginning to anticipate our needs.
AI is also affecting the financial services world. One only needs to look at increasing global inflows of assets via Robo or digital only options. No adviser, no BDM, little advertising. Fully digital sources of financial advice will become ubiquitous.
This may suggest that there is no place for personal financial advice in an AI driven world. Surely an app could do it all!
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