You May Not Be Using AI to Its Full Potential

The advances in computing capacity and artificial intelligence have long been hailed as a tremendous efficiency boost for wealth advisors and their clients. While almost all advisors recognize the implicit value of integrating AI into their daily practice, most AI adoption has either been via robo advisors (Wealthfront and Betterment) or "intelligent" customer service (think chatbots). The rise in model portfolios and manager selection has relieved advisors of the sole focus on individual equities, but clients still want insights on their favorite names (TSLA, AAPL, BTC). In addition, advisors with in-house research need to be able to provide the full context behind analyst upgrades/downgrades or price target changes and, therefore, have to dig through a mountain of PDFs and collate information from disparate sources in order to answer client questions and be seen as value-add. In the past, advisors with access to a dedicated information terminal could quickly access news and data their clients weren't seeing.