Financial Planning Email Newsletter: How to train AI to be more responsible in wealth (August 29, 2024)

How to train AI to be more responsible in wealth

Wealthtech Weekly

August 29, 2024

By Rachel Witkowski Tech reporter

Everyone talks about training AI tools to give correct outputs, but an equally important concept is training AI what not to say.

Leaders at Morningstar and Savvy Wealth this week talked about building guardrails around AI chatbots.

Another interesting concept is creating an "app-less AI agent" responsible for all multi-app activities — as discussed by Celent's Jean Sullivan in Wealth Think this week.

Tips on building responsible AI can be found here, and much more at Financial Planning.

And check out our first conference on AI in wealth management, ADVISE AI, Oct. 9-10.

Reach me at [email protected].

Connect with Rachel:

TOP STORIES

Technology

Don't speak: How firms like Morningstar teach AI what not to say

Firms like Morningstar and Savvy Wealth share their experiences in building guardrails around AI tools to prevent them from giving risky advice or creating regulatory concerns.

Are AI agents the next big wealth management disruptor? What financial advisors should know
AI agents are already transforming how financial planners and clients interact; the "app-less" version will add an infusion of enterprise-wide scale to the mix.

How Merrill, Morgan Stanley and more use AI as a chill pill for jittery investors
Firms like Merrill, Morgan Stanley and Morningstar are finding ways to use AI to calm the storm of economic and political uncertainties

Tech Spotlight: Savvy Wealth's CEO on pushing advisor tech, not a sale
Savvy Wealth CEO Ritik Malhotra said the tech-backed platform focuses on building tools not just for the advisor, but for every person helping them.

For financial advisors, is AI a job taker or maker?
A new MIT study says AI could potentially adapt to an advisor's predictive and empathetic behaviors. But industry leaders argue AI is actually generating more job growth for advisors, not replacing them.

Read the latest in Wealthtech

Sponsor Content from Avantax

Building your legacy: Succession planning and M&A insights

In this webinar we'll discuss best practices for building a succession plan and how to approach buying or selling a firm.

Financial Planning

You're receiving this email because you signed up for Editorial emails from Financial Planning.

If you no longer wish to receive these emails, you can opt out here.

To update the emails you want to receive, or to unsubscribe from our mailing list, please visit our Email Preference Center.