Outsourced to a robot

Outsider/chatgpt/technology/

27 January 2023
| By Outsider |
image
image image
expand image

Much has been written about the recent development of AI chatbot ChatGPT which can write stories, answer questions and provide fascinating facts for its users.

The next stage is how the app can be put to productive use and whether it can be used to provide financial advice.

Forget the impact of the Quality of Advice Review, if this goes app becomes a mainstream proposition, advisers are wondering whether they will be usurped by an robot which can bring down the time and costs of their work.

Readers might think that Outsider is shy of technology but, on the contrary, anything that would give him more time to play golf is good in his eyes.

He sees an even-better potential than providing advice; letting the chatbot write his columns while he has a well-deserved rest in the sun. 

After all, it’s only taken 35 years of columns for him to find a suitable replacement and this one won’t even need paying.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

5 months 1 week ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

5 months 1 week ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

7 months 2 weeks ago

The RBA has handed down its much-anticipated rate decision, following widespread expectations of a close call....

3 days 23 hours ago

The FSCP has issued a written direction to an adviser who charged clients “extraordinary fees” for inappropriate and conflicted advice, as well as encouraged them to swit...

2 weeks 4 days ago

ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager. ...

4 weeks ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
2
DomaCom DFS Mortgage
95.46 3 y p.a(%)
5