AI vs human advisers : The ultimate financial showdown ?
By Russell Ho
Picture this : A world where cutting-edge artificial intelligence ( AI ) meets the wisdom of human financial gurus . You have probably caught wind of the hottest topic in finance — the rise of ChatGPT and AI . The big question on everyone ’ s lips : Can these tech wonders really outshine your trusted human financial adviser ? In this detailed look , we will uncover the collaboration between AI and human expertise in the finance industry , highlighting the essential role of the human touch in securing your financial well-being .
What is ChatGPT and AI ?
ChatGPT is an AI-powered chatbot developed by OpenAI . It engages in human-like conversations and can discuss a wide range of topics , including financial matters . ChatGPT is continuously learning and adapting to become more efficient over time . It is easily accessible via the internet and has garnered significant attention since its release in November 2022 . You can read more about this technology in our July 2023 edition of The Professional in the article Embracing innovation : How chatbots transform the workplace .
Why human financial advisers are essential
While ChatGPT and AI can provide general financial information and guidance , they cannot replace human financial advisers ’ expertise and personalised advice . Here is why :
Empathy and understanding : A cornerstone of human financial advisers ’ effectiveness lies in their ability to connect emotionally with their clients ’ financial realities . They possess the unique skill to empathise with a client ’ s financial situation , comprehending the
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