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AI presents a promising solution to the challenges posed by increasing lifespans and rising living costs, which strain traditional retirement income systems. As demographic changes continue to reshape economic landscapes, AI can enhance pension plans and social security, ultimately leading to improved retirement outcomes. The collaboration between the World Economic Forum and Mercer highlights the potential of AI in creating more resilient financial systems.
AI can modernize pension systems by optimizing tax incentives, improving benefit designs, and ensuring sustainability amidst changing demographics. The technology also aids in personalizing member interactions and enhancing transparency in retirement programs. However, ethical considerations and governance are crucial as AI's role in financial decision-making expands.
• AI can optimize retirement planning and improve pension system sustainability.
• 91% of investment managers are using or planning to use AI for strategies.
Predictive AI helps analyze data to forecast outcomes in retirement planning.
Generative AI personalizes member interactions to enhance understanding of retirement benefits.
Data security is essential to protect sensitive information as AI is integrated into financial systems.
Mercer collaborates with the World Economic Forum to explore AI's potential in retirement planning.
The World Economic Forum partners with Mercer to address challenges in pension systems using AI.
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