Adjusted for Risk: How AI Can Impact the Wealth Management Industry and Your Practice

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Adjusted for Risk: How AI Can Impact the Wealth Management Industry and Your Practice

Artificial intelligence is advancing faster than the speed of regulation, causing uncertainty for business leaders and compliance challenges for lawyers. A new report from Berkeley Research Group highlights the gap between what outside counsel recommends and what executives are open to regarding AI policies and procedures. The report sheds light on the struggles faced by organizations in complying with current AI regulations.

Four in 10 executives, high-level in-house lawyers, and outside counsel surveyed by BRG expressed a lack of confidence in their organization's ability to comply with existing AI regulations. The rapid advancements in AI technology are outpacing regulatory frameworks, leading to concerns and complexities in the wealth management industry. The conversation between Qdeck CEO Jag Prakasam and Keebeck Wealth Management CEO Bruce Lee delves deep into the implications of AI in financial advisory practices.

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