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afraid of artificial intelligence managing your money


Don't be afraid of artificial intelligence managing your money - Daily Times

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Would you want a robot managing your money? Are you comfortable with a computer that could think and learn? While this might sound like a futuristic science fiction novel, it's already happening in financial services. Robots and smart computers are helping to manage your money, and they will enable banks to increase revenue and employment over the next five years, according to a report by Accenture on realizing the full value of AI . Artificial intelligence refers to computer systems that are able to perform tasks that historically required human intelligence, such such as recognizing images, understanding speech, translating languages and making decisions.


Don't be afraid of artificial intelligence managing your money

#artificialintelligence

In addition, over half of executives said that they believe human-machine collaboration is important to achieve their strategic priorities. Most advisors are not worried about AI replacing them. "You're never going to completely eliminate the human element in financial services," said Charles Weeks, founder and president of Barrister Wealth Management in Philadelphia. "There is always nuance in everything." Advisors don't think that technology will offer a solution for every problem.