Guest: Andrew Brzezinski, PhD, CFA, Head of Data Strategy, Business Intelligence and Advanced Analytics at Fidelity Investments.

In a Nutshell: In the year since ChatGPT was released to the public, it’s been challenging to separate the reality of this technology from the hype. But there’s a fruitful middle ground between AI’s future potential and current limitations where advisors can find practical ways to streamline processes and focus more of their time on the human side of financial advice.

On today’s show, Andrew Brzezinski and I discuss generative AI, overcoming the barriers to adopting AI, key risks and ethical considerations, and the future outlook for using AI in an advisory practice.

.Andrew Brzezinski and I discuss:

  • The best use cases for generative AI right now, including text summary, pattern recognition, personalized marketing materials, and customer service.
  • The potential for AI to improve advisor efficiency and productivity.
  • Ethical and compliance challenges advisors need to address as they add AI to their workflows.
  • Using AI to enhance, rather than replace, human tasks and deepen advisor – client relationships.
  • Will AI create more free time for people, or will we just fill that time with more work?
  • How smaller firms can embrace AI and other fintech platforms to compete with larger firms.
  • Top issues that Fidelity’s AI team is helping advisors tackle.
  • How AI could help advisors face industry challenges such as rising competition, consolidation, regulatory changes, and technological disruption.

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