Relying on AI for financial advice could cost you thousands. Here’s why.
1. Google Gemini recommended significantly conservative investment allocations compared to advisers. 2. Advisers' personal stock allocations influenced clients' recommended portfolios significantly. 3. Older advisers offered more objective, less personalized investment advice than younger ones. 4. AI platforms may not outperform experienced human advisers in investment advice. 5. Conservative AI recommendations might lead to reduced long-term wealth for investors.