Table of Contents:
Introduction to generative AI in the financial sector
In recent years, generative AI has started to gain ground in various sectors, and financial advice is no exception. This emerging technology offers innovative tools that can simplify and optimize consultants’ daily operations, while improving the customer experience. According to a recent survey conducted by e*finance Consulting Reply, Italian financial advisors show a growing interest in the adoption of these technologies, recognizing their potential to transform the way
they work.
The practical applications of generative AI
The survey revealed that financial advisors see generative AI as an opportunity to improve their productivity and the effectiveness of customer interactions. Among the most promising applications are the preparation of meetings, the optimization of the daily schedule and the creation of personalized content. These tools can help consultants save time, allowing them to focus on strategic and relational activities, essential for building a relationship of trust with
customers.
The role of generative AI in personalized consulting
A crucial aspect that emerged from the survey is the ability of generative AI to provide clear and transparent explanations regarding investment recommendations. This is particularly important to address the ‘black box effect’ that often accompanies robo-advisory solutions. Consultants can use these technologies to generate “what-if” simulations, which allow clients to better understand the implications of their financial choices. In addition, AI can automate the management of routine requests, freeing up valuable time for more complex tasks
.
Future challenges and opportunities
Despite the obvious benefits, adopting generative AI also presents challenges. Consultants must address the need to integrate these tools into their existing workflows, while ensuring that the use of AI does not compromise the personalization of the service. Banks and consulting networks could consider creating dedicated digital platforms, which offer generative AI tools balancing usability and personalization. This approach could facilitate adoption and improve the effectiveness of customer interactions.
