Embracing AI Can Help RIAs Transform Their Practices

Jamie ShilanskiAdvisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.

Every January, a considerable number of Alaskans embark on a ritualistic exodus to the Hawaiian Islands. These journeys are less about vacation and more about an annual pilgrimage to reconnect with the notion that sunlight can radiate illumination and warmth – concepts easily forgotten in the protracted, frigid darkness of Alaskan winters.

By January 2024, however, these well-laid plans – ours among thousands – were cast into disarray. A critical malfunction occurred when a pressurization plug, designed to seal an unused exit door, detached mid-flight. The ensuing chaos grounded an entire fleet of Boeing 737 Max 9 aircraft, compelling the Federal Aviation Administration (FAA) to launch extensive airworthiness inspections.

Though the plane landed without casualties, the incident disrupted approximately 150 flights over several weeks. Four of those cancellations directly derailed our own attempts to flee winter’s grip, delaying our trip by four days.

The frustration wasn’t simply about the cancellations. It stemmed from the unmistakable realization that the airline likely knew these flights were doomed far in advance, yet we – the passengers – were among the last informed. Adding insult to injury, the cabin crew often learned of cancellations even after us, their confusion palpable as passengers berated them in the terminal lounge. Such are the pitfalls of instantaneous information in the digital age: We demand immediacy, yet sometimes it arrives unevenly, leaving us fumbling for clarity amidst a deluge of notifications.