Good morning. Any investment advisors concerned about being replaced by AI can breathe easy—perhaps for quite some time.
On a recent episode of Wharton’s Ripple Effect podcast, finance professor Michael Roberts shared what he’s learned from researching AI and engaging with those who are implementing it. “It’s hard to not see [AI] as being central in one way or another to financial literacy, and financial practice, more broadly,” he said. But “where it is right now is simply nowhere near where it needs to be in terms of a stand-alone, say, investment advisor or a financial guru for individuals.”
I had a chat with Roberts to find out more, particularly his thoughts on AI’s effect on Wall Street C-suites. “AI is going to start playing an increasingly important role,” he said. “I already see it being used.” (At the Fortune Brainstorm AI conference in…
