Perspective

How Generative AI will actually transform financial advice

A report from the Fidelity Center of Applied Technology® exploring the potential impact of Generative AI on wealth management.

Key Takeaways
  • Advisor tools, using a combination of traditional AI and Generative AI, will continue to grow increasingly sophisticated at automating and expanding the services that financial advisors can offer. 
  • But Generative AI won’t stop here. We believe the most profound impact on the advisor’s life will be when it changes the nature of human interactions, the most valuable work that advisors perform.
  • We already see in consulting, medicine, and education examples of LLMs being tuned to engage the individual in more substantive exploration of a given domain. The potential for these "suggestion engines" in the advice industry is vast.
  • In the next few years we should expect to see advisors leaning on these artificial coworkers for things like contextual support, customer experience training, expanding services, and marketing.
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Fidelity Investments that is comprised of several legal entities that provide a variety of services to intermediaries and other institutional clients including but not limited to clearing, custody, and brokerage services provided by National Financial Services LLC or Fidelity Brokerage Services LLC, Members NYSE, SIPC. None of the legal entities that comprise FBS and NFS have been involved with the preparation of the content supplied by CatchlightSM or Saifr® nor do they guarantee, or assume any responsibility for its content, notwithstanding their affiliation with CatchlightSM and Saifr®.

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