The Use of Artificial Intelligence in Financial Advisory

Abstract

This article analyzes the potential benefits and challenges of utilizing artificial intelligence (AI)in financial advisory based on a survey conducted among financial advisors. The results indicate that mostadvisors perceive AI as a tool capable of enhancing various processes, from data processing to financialplanning and client service personalization. The study identifies key areas where AI can reduce administrativeburdens, accelerate data analysis, and support better decision-making. However, respondents alsoexpressed concerns regarding data security, the need for more reliability, and the transparency of AIalgorithms, which could limit the broader adoption of these technologies. Although AI is a significantadvancement, its full implementation in financial advisory will require a balanced approach combiningtechnological solutions with human advisory. This research overviews the current state and highlightspotential directions for AI development in financial advisory, emphasizing the need for an ethical frameworkand transparency.