DASH features on Ausbiz
Key points:
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Invisible, generative AI to automate most advisory grunt work, freeing advisers for high-value client interaction
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Customers expect seamless and highly personalised experiences modelled on leading consumer brands
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Personalisation is becoming a baseline expectation without additional cost
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AI is instrumental in making advice businesses more profitable through improved unit economics
Sarah Murray of DASH Technology Group outlines a future where artificial intelligence fundamentally transforms the wealth management experience, particularly through the adoption of what she terms “invisible AI”. According to Murray, while 2025 AI is associated with tools like ChatGPT, by 2026 the focus will shift to generative AI automating up to 80% of repetitive advisory tasks. This enables advisers to dedicate more time to value-added human interactions, such as wealth coaching, enhancing the role of the human adviser.
Murray states consumers are demanding highly personalised, seamless digital experiences, likening expectations to what users receive from companies like Netflix, Spotify and Uber Eats. She highlights research from McKinsey, revealing that 71% of consumers now expect personalisation, and frustration grows when these expectations are not met. Companies such as Coca-Cola and Nike have raised the bar by offering personalised products without extra cost, further embedding the expectation of personalisation in all areas, including financial advice.
AI-powered automation, Murray says, provides a commercial edge – improving profitability for advisers by driving operational efficiency and enabling scalable personalisation. She says the financial advice experience now needs to be benchmarked against leading consumer brands, not spreadsheets, as clients unconsciously compare every digital interaction to the best consumer-grade technology available.
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