It’s clear that, when implemented in a thoughtful and structured way, AI does deliver on specific use cases. But what I’ve found more interesting is the concept of the ‘impact coefficient’: how an individual can achieve uplift in delivery of their core role. 

Very few people go into a job to become, for example, a financial adviser who says: ‘wow, I really cannot wait to write up the reports for my clients, fill in the KYC forms, and update the CRM with all of the required points to satisfy an increasingly more regulated world’. On the contrary, people become financial advisers because they want to help people on their journey. They want to make a difference, to spend time with their clients and get to know them, so they can provide the best advice to allow each person to achieve their respective goals. 

I repeatedly hear the above tension of how people want to spend time vs where time actually gets spent from wealth advisers and financial advisers. And this is where the impact coefficient comes into its own. If an adviser is freed from the responsibility of capturing and analysing all the information from a conversation, they can spend their time focusing on asking the right questions and really getting to the heart of what a client needs. They can pay far more attention to body language and tone, helping to understand the ultimate driver of a client’s concerns or decision making. This enables the adviser to be truly present in a conversation with their clients and helps them provide better advice, allowing the client to make better decisions; ultimately having a fundamental positive impact on their long-term trajectory. 

Imagine a world where all the advice being offered was elevated in this way. The long-term impact on the UK wouldn’t just be significant – it could be transformational.