Artificial intelligence provides adviser advantage

Artificial intelligence is reshaping wealth management and a digital infrastructure specialist believes financial advice practices will greatly benefit from implementing AI in the workplace. Dimension Data believes artificial intelligence is not just for robots and automating traditional blue-collar workplaces - it will also be of great benefit to financial advisers. The firm's chief technology officer for Australia, Debra Bordignon, said AI will cover "the generalist research and problem solving of first-year lawyers, financial advisers, accountants, and doctors." Her comment comes from Dimension Data's latest e-book that aims to provide executive guidance around the assessment of a business' digital enterprise capability. She said leaders across all industries lack tools and models for cohesive strategy and execution, "and so approaches are often piecemeal, falling short of what is required to flourish in the digital social era." "IT leaders are scrambling to understand which strategic assets and capabilities they need to bridge analogue and digital worlds. They want to know how to take the culture and business models associated with dynamic start-ups and bring them into mature enterprises," Bordignon said.