Co-opting Artificial Intelligence as an Opportunity for Financial Service Professionals
It is important to note the implementation of Artificial Intelligence and growth in robo-advising is disrupting the financial service industry. Platforms utilizing a combination of human advisors leveraging the technology of robo-advising will give clients more options, aiding higher levels of customer satisfaction and retention. Extinction of financial advisor is not soon likely as organizations learn to leverage AI as a tool, providing engaged advisor with efficient and effective tools for analytics, automation, and operational support. With this in mind, financial service professionals are wise to embrace these technological developments and adapt to the potential while filling the voids that still require social skills, emotional intelligence, creativity, communication, and understanding of human nuances. Understanding human nuances enables professionals to hear a client’s stated goals and use emotional intelligence to engage in a deeper dialog to uncover additional client needs, goals, and desires. Emotional intelligence has always been important but will have increased significance as a differentiator between humans and AI-powered virtual advisors.