Family Wealth Report
Geoffrey Hinton, the computer scientist known as the “Godfather of Artificial Intelligence,” recently warned us on 60 Minutes that he was quite worried that AI is likely to become more intelligent than humans and “might take over” the world.
Ray Kurzweil, the famous futurist, says when children born today are in kindergarten, it’s probable that AI will have surpassed humans “at all cognitive tasks,” ushering in the new era of artificial general intelligence.
Well, in the meantime, a not very scary but extremely practical and time-saving AI app is taking the financial advisory industry by storm: software that transcribes and summarizes meeting notes with clients and then feeds action items into CRM applications for implementation.
Note-taking/action item apps have become the most popular “use case” in artificial intelligence among financial advisors to date, according to Josh Brown, CEO of Ritholz Wealth Management, who recently moderated a panel discussion on AI hosted by the Museum of American Finance and Betterment.