LEXIA examines the impact of AI on financial services: moving towards the digital advisor?

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Angelo Messore and Gianmarco Saverio Tucci, partner and associate at LEXIA, recently explored the evolution of artificial intelligence (AI) in the financial sector, analyzing the opportunities and challenges this technology presents for banks and intermediaries. The adoption of AI-based solutions enables significant improvements in operational efficiency, service personalization, and risk management. Through the use of advanced algorithms, banks can automate repetitive processes, monitor fraudulent activities in real-time, and provide highly personalized financial advice.

However, as the authors point out, risks and challenges also emerge. The European Securities and Markets Authority (ESMA) has highlighted the issue of “black boxes,” referring to the difficulty in understanding AI’s decision-making processes and evaluating the quality of its results. To mitigate these risks, investment firms must ensure high standards of transparency, strong governance mechanisms, and adequate staff training.

Looking to the future, LEXIA anticipates a gradual shift towards the “digital advisor,” with the introduction of AI-powered chatbots and avatars for direct customer interaction. While human oversight will initially play a central role in the process (“human in the loop”), it is not excluded that, in the future, AI may take on a more autonomous role in delivering financial services, surpassing current technological and regulatory barriers.

Read the full article on HuffPost Italia.

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