Though not “new,” Generative AI took center stage in 2023 with the dawn of ChatGPT. For the first time in history, AI is a part of the everyday person’s every day. With more than 100 million users, ChatGPT has quickly become the fastest growing internet application in history.

This trend will only continue as humans  explore innovative ways to automate monotonous and repetitive tasks using this technology. Early adopters of AI are already finding that it improves their workflow and gives them more time to focus on overall strategy.

In the financial industry, artificial intelligence (AI) is rapidly becoming a game-changer, and the trend is expected to continue in 2024. In a 2021 survey of leaders in financial services, 83% stated that AI is moderately to fully functional in their organizations.

AI can automate countless administrative tasks like answering commonly asked questions, streamlining recruiting and onboarding, or creating more personalized communication with clients and prospects - though we probably don't need to worry about it replacing financial advisors just yet.

By embracing generative AI as a virtual assistant, early adopters can streamline day-to-day tasks, improve accuracy, and stay ahead of the curve.

Want to read more about financial trends that may impact 2024?

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