Artificial intelligence is one of the most controversial topics across many fields. Though many see AI has a critical tool for improving productivity and increasing efficiency, there are also concerns. Artists and other creatives have raised questions about how AI could be stealing their work. Con artists have already started taking advantage of AI in some alarming ways.
Whatever you feel about AI, it is certain that, as an advisor, you will need to understand how it could impact your job.
AI Impacts Multiple Corners of the Economy
According to VettaFi head of research Todd Rosenbluth, “The megatrend of artificial intelligence will impact many sectors and help a range of companies become more efficient. It is exciting to see how rapidly things are changing.”
Aside from being something that can be directly invested in, artificial intelligence is already making a huge impact on many firms across many sectors. Even non-tech companies like Ford and John Deere are increasingly investing in artificial intelligence. Healthcare is also seeing tremendous interest in artificial intelligence, as are other major sectors of the economy.
AI Could Directly Impact How You Do Your Work
Advisors have a lot to gain from AI as well, which can potentially help build portfolios without bias, leaning purely into crunching the numbers. AI is also a useful automation tool, which greatly reduces the amount of time spent on research and data analysis. It can also be used to manage risk and protect clients’ portfolios.
Your Clients Will Look to You for Answers
Even outside of its direct utility for advisors, AI is a big story. Your clients are going to come to you with questions, and you will need to be able to answer those questions.
Fortunately, VettaFi is gathering thought leaders for an Artificial Intelligence Symposium on August 30. This is a unique opportunity to rapidly gain an understanding of this new technology as well as earn CE credits.
Originally published on ETFTrends.com on August 14, 2023.
A message from Advisor Perspectives and VettaFi: Just as artificial intelligence (AI) is helping advisors create videos, write blogs, construct portfolios and coach clients, companies throughout the world are using it to deliver more value to their clients. Learn about the future of AI and the investment opportunities it is creating at our next symposium, on August 30 at 11 am ET. Click here to register.
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