Artificial Intelligence: Asset managers must embrace it or be competed away

'Inroads of robo-advice into financial planning'

There has been some fairly disconcerting commentary on the possible impact of AI on our world, writes Andrew Herberts, head of private client investment management at Thomas Miller Investment.

But if one puts the potential destruction of humanity aside (a big if), our industry should be looking at the impact it will have on client service and our own role in that service. AI is here to stay, and may well be to the professions in the current era what the introduction of robots was to the manufacturing industry in the latter part of the 20th century. However, as was the case with robotics in the industrial evolution, we are far from displacing all human input.  AllianzGI unveils global artificial intelligence fund AI will be, and is, able to process large amounts of dat...