Many financial advisors started using artificial intelligence (AI) years ago. But the technology has become more diverse and user-friendly in recent years, and both advisors and their clients are becoming more comfortable with it.
“I know there is the current popularity of AI in the news and pop culture, but I was studying how AI (we called it Big Data) could be applied to business and wealth management during my grad school years at Millsaps,” said Martin E. Palomo IV, CEO and co-chief investment officer, Argent Wealth, Ridgeland. “Analysts in my industry started using AI to read and compress the data in huge documents distributed by companies and find trends in the data. We also use predictive AI to help clients run scenarios of future events in our planning software.”
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