Generative AI in Finance: Qdeck’s Approach


Wealth advisors with decades of experience are seasoned and trusted, and have built their professions in a “golden age” of wealth management through a human-centric approach. Advisors’ traditional approach and continuation of Golden Age practices like in-person client meetings, home visits, and events have helped their success.

But those practices will be only part of the success equation once the upcoming $10 trillion wealth transfer expected in 2025 takes place. The new standard is driven by cutting-edge technology. There is no way around digitalization. Hyper-personalized systems define the modern customer experience. Professionals across industries are learning to leverage this tech-driven, business-as-usual model to stay competitive and relevant. It’s time for wealth managers to do the same.

What is Generative AI?

Open AI’s release of ChatGPT brought “generative AI” to the forefront of our minds. GPT stands for Generative Pre-Training Transformers. Generative AI is artificial intelligence that produces content, text, audio, visual, and synthetic data. The data is high quality and mimics human thought processes and capabilities in a matter of seconds.

ChatGPT excels in tightly “writing” content. Coding used to be limited to programmers. Now, English has effectively become the coding language. Imagine that there is a computer and you are feeding the computer information for it to learn from that information. The more information that the computer is fed, the more it can track patterns, categorize information, and identify cause-and-effect relationships.

How Does Generative AI Fit Into Finance/Fintech?

Wealth advisors must consider many scenarios and factors at once to best advise their clients. This requires a pulse on news events, crises, and market trends. AI can help to optimize wealth advisors’ perspectives, and provide recommendations on asset allocation strategies, identify uncorrelated assets to improve risk management through diversification, and keep tabs on customers’ needs.

Validating Decision Making

AI can help verify if actions are appropriate based on customer risk tolerance, life events, and attitudes toward causes such as ESG. AI can account for variables more quickly than a human, but a human should be the one to strategize and advise. Advisors can spend more time advising by relegating communication tasks to artificial intelligence. As generative technology on a public-facing level is still in its infancy, it is productive to get into the practice of using AI as part of your everyday workflow. AI technologies are born by the day, and proficiency in one can often carry over to others.

Introducing Technology into Your Work: How Qdeck Fits In

QadvisorGPT has a machine-learning pipeline that processes global financial data, which allows it to stay up-to-date. Advisors appreciate this feature because many other AI chatbots lack the real-time data to inform real-world decision-making. Advisors can always be confident that they are getting accurate, actionable data.

Above and Beyond: Qdeck is Your Super-Efficient Copilot

Artificial intelligence is a workload enhancer, not a replacement for humans. Physicians, for instance, will look to artificial intelligence to analyze lab results and explore various prognoses. Financial professionals will look to artificial intelligence to deliver faster insights to their clients and supercharge the customer experience, as well as financial outcomes.

Incorporating robo-advisor tooling can lead to more personalized communication, which builds relationships and trust. Qdeck can fit into the existing workday of an advisor, as well as the end-user thanks to its elegant interface.

Considering the Benefits of Generative AI in Finance

When Qdeck was in its design and build phase, our team asked how we could serve the financial advisors of today with the tools of the future. We knew that we had to strike the right balance between innovation and tradition. Anything too lofty would be difficult to adopt, and something that’s the next generation of an existing tool would not be compelling enough to implement.

That’s how we came up with the current Qdeck setup, which is supercharged by the best that AI has to offer. The benefits of using AI in wealth management include the following:

  1. Personalized finance guidance: Tailor advising to individual needs, leveraging relationship skills and infallible systems.
  2. Efficient research: Dive into the relevant information of the day faster than ever.
  3. Compliance and risk management: Adhere to industry best practices and standards in an up-to-date way.
  4. Client engagement: Stay connected with all portfolio stakeholders.
  5. Predictive analytics: Take a sober look at what is most likely to happen and prepare to address market changes before they happen.

Advisors find that, when they lean on a robo-advisor, it is like having a seasoned assistant. Qadvisor already understands wealth management and portfolio advising because it was built by humans who spent their careers in finance.

If you are looking to both stay relevant and maintain a white-glove approach to advising, try Qdeck today.

Contact us for a demo.

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