Description

In this episode of Financial Clarity for Doctors, hosts Corey Janoff and Rachelle Vanderzanden dive into the world of financial advice driven by Artificial Intelligence.  Computers are becoming more and more sophisticated and nuanced in their ability to answer questions and provide advice and information on a wide range of topics.  Can we rely on AI for good financial advice?

In this episode we walk through:

• Current uses of AI in financial advising including sophisticated note taking and answers to questions based in facts. For example, what is the 401k contribution limit in 2025?
• We also talk about some of the limits of AI in this world.
  • One of the biggest factors is not knowing what information to provide in order to get a good output. For example, if you forget to prompt for inflation, would that be included in an answer regarding retirement readiness?
  • Financial advice can also be very nuanced and influenced by individual goals, how much risk a person can tolerate, compromises between partners, and personal experiences. It’s hard for a computer to know you well enough to take those things into consideration.

In short, artificial intelligence may be helpful to solve some of the factual and math questions in finance, but it doesn’t seem like we are there yet with the personal side of things.  Which is a very big part of planning!  Listen to the full episode to hear more about ways that AI may be able to help in plan, and areas where it may struggle a bit.

For more financial planning tips from Corey and Rachelle, you can reach out to them at podcast@thefinitygroup.com. They would love to hear your questions and ideas for upcoming episodes.

Discussions in this show should not be construed as specific recommendations or investment advice. Always consult with your investment professional before making important investment decisions. Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer, member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc., a Registered Investment Adviser. Finity Group, LLC and Cambridge are not affiliated. Cambridge does not offer tax or legal advice.