Artificial intelligence will not replace the role of financial advisers. This was stated by UBS Group chief executive Ralph Hamers, CNBC reports.
According to him, technology is better suited for performing routine tasks, such as opening an account or executing trades.
“Advisor involvement in these processes will not yield any benefit. They are advisers. They should advise,” Hamers says.
He added that financial advisers should receive support from technology. For example, they could use AI to analyse research and other data that specialists do not have time for.
“This is what artificial intelligence is capable of, because even our client-facing advisers cannot read all the research and cover all the available product options there are,” Hamers says.
Earlier in June, the head of Kaspersky Lab, Evgeny Kaspersky, said that an artificial intelligence equal to a human will appear in a thousand years.
In late May, the head of Sberbank, Herman Gref, said that people should prepare for job losses due to automation and acquire new professions.
In May, Nobel laureate in economics Daniel Kahneman noted that machine intelligence will surpass human intelligence, but for now it is far from that.
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