Guests: Dr. Vinay Nair, the Founder and CEO of TIFIN, a fintech platform that drives personalization for wealth using AI and investment intelligence.

In a Nutshell: When someone tells you, “This time it’s different!” you usually have to steel yourself against a shady sales pitch. AI is proving to be an exception to that rule. The possibilities for practical AI business applications have already evolved far beyond ChatGPT-style bots and blog drafts. Advisors need to get serious about developing an AI gameplan. But before you make any investments in tech, you need to invest your time to learn about where AI is going and identify integrations that will add real value for your employees and your clients.

On today’s show, Vinay Nair and I survey the state of AI in financial services. We also explain why the rise of AI is going to make your team’s person-to-person skills even more critical.

.Vinay Nair and I discuss:

  • Why Vinay believes 2023 was “The Year of Intrigue” in AI and 2024 will be “The Year of Experimentation.”
  • Examples of TIFIN’s fintech platforms for both consumer and B2B and how the firm is using AI to fulfill its mission: “Better advice for more people.”
  • Applying AI’s powers of personalization in different financial service contexts.
  • Why an advisor with an AI toolkit is better than AI alone and how to determine what tasks advisors should delegate to AI.
  • AI curiosity and adoption rates among financial advisors.
  • Reducing friction for integrating AI.
  • Using AI to improve organic growth rates.
  • AI functions vs. AI features.
  • The need to adopt a “learning mindset” as you prepare your AI gameplan.
  • How Vinay sees AI-powered personalized advice developing in our industry over the next three-to-five years.

.Resources Related to This Episode