AI: Artificial Intelligence or Authentic Intelligence?

"By LouAnn Schulfer, AWMA®, AIF® “The Wealth InFormation Lady”, Accredited Wealth Management AdvisorSM, Accredited Investment Fiduciary® , Published Author" |

“AI” or Artificial Intelligence generally refers to a computer doing what a human can do.  Sometimes we are asked what role Artificial Intelligence has in our profession of Wealth Management.  AI can assist with financial planning, with investment management and with communications.  While AI is fascinating in some respects, it’s limitations are that it can only work with data it has been fed.  The risk therefore, is as the saying goes, “garbage in, garbage out.”     In my opinion, it is smart to test AI and see how it can help but not rely on AI going beyond your own level of intellect.  Doing so, one may not recognize the “garbage” that is coming out and could lead to a financially devastating decision.

 

I’ve heard of advisors using AI to write communications, like client correspondence, blogs and articles, and even entire books.  The concept of ghost writing is not a new one:  advisors have hired writers, paying them hefty sums of money to do the heavy lifting of writing, and take all the credit for the ghost written material. In fact, there are entire companies that will write as much material as one will pay for, and while it may not be ethical, it is entirely legal to take all the credit, calling yourself the author, when really, what you were was the payor.

 

For over a dozen years, I have authentically written our company’s newsletter, local newspaper articles, website blog, and two books to date.  A computer may be able to artificially write about money and finance with a degree of accuracy, but it will never be able to fully replicate what a human professional can do, based on real life experiences of what matters the most to other humans.  You can be assured that I, The Wealth InFormation Lady, will always write with Authentic Intelligence.

                 

 

LouAnn Schulfer of Schulfer & Associates, LLC Wealth Management can be reached at (715) 343-9600 or louann.schulfer@lpl.com TheWealthInformationLady.com  SchulferAndAssociates.com

 

Securities and advisory services offered through LPL Financial, a Registered Investment Advisor.  Member FINRA/SIPC.  

 

Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual.