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Andrew Firth, CEO of Wealth Wizards kicked off the day, looking at the advice landscape in the UK, exploring the 'advice gap' and what we can do to address it.
Our keynote speaker was Dr Daniel Susskind, Fellow at Oxford University, author and former Senior Policy Adviser at the Cabinet Office and author of the best-selling book The Future of the Professions. He talked of how in an Internet society, the professions will look remarkably different from today, and we will neither need nor want accountants, doctors, teachers, architects, lawyers, the clergy, consultants, and many others, to work as they did in the 20th century.
Next up, David Stevens talked about LV='s innovation journey, how they plan to continue the adoption of automated advice, the importance of reg-tech and the part that user experience has to play.
After a buffet lunch, Peet Denny, Chief Technology Officer at Wealth Wizards let everyone into the exciting developments going on in Wealth Wizards. From speech recognition to affective AI to gauge thoughts and feelings, AI is starting to become ingrained in everything at Wealth Wizards.
We welcomed Tristan Brandt, Principal of Financial Services at Oliver Wyman. He spoke of the opportunities that open banking brings when enabling a provider to profile and better serve their customers, bringing in a case study from work carried out with a client.
Finally, Simon Bussy, Domain Director at Altus based his talk on his report Artificial Intelligence: the evolution of financial advice which defines what AI is and looks to advice firms and beyond for best practice along with a few predictions about how the shape of the financial advice sector will look in a few years' time.