Asset managers: Balancing AI with HI

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Balancing artificial and human intelligence

14 November 2023

The asset management sector has witnessed a rapid evolution in recent years, largely driven by the integration of technology and digital solutions.

In this digital age, websites serve as virtual gateways to businesses, and Artificial Intelligence (AI) has emerged as a powerful tool for personalising customer experiences and shaping user journeys.

However, amid the rise of AI, a pertinent question arises: will human intelligence and the human touch, which are crucial for brand enforcement and emotional connection, be overshadowed? How can we ensure the right balance between AI and human involvement in the context of customer personalisation, user journeys, brand enforcement and emotional connection?

AI for customer personalisation and user journeys
AI has revolutionised customer experiences by tailoring them to individual preferences. Through data analysis, AI algorithms can predict investor behaviours and recommend investment products that align with their goals and risk profiles. This level of personalisation enhances user engagement, as clients feel their unique needs are being addressed.

In terms of user journeys, AI can streamline interactions. Chatbots are able to provide instant assistance, answer queries and even execute transactions. This seamless experience fosters user satisfaction and loyalty. AI also optimises user journeys by analysing data patterns to anticipate potential roadblocks or preferences, leading to more efficient navigation through digital platforms.

The human touch and brand enforcement
Whilst AI offers unparalleled efficiency, the human touch remains indispensable for brand enforcement. A brand encompasses not only visual elements but also values, ethos and emotional connections. Humans are essential in conveying these intangible aspects of a brand.

Human interaction imparts authenticity and empathy that AI cannot replicate. Asset management is about trust and partnership, and these qualities are nurtured through human interactions. Experienced advisors can explain complex investment strategies, address concerns and provide reassurance, cultivating a sense of security that AI interactions might lack.

An emotional connection
In the asset management sector, the buying process is more than a transaction – it's an emotional journey. Establishing an emotional connection builds lasting relationships. AI, while proficient in data analysis, lacks the emotional understanding that humans possess. Brand loyalty and trust are forged through emotional connections, which are often established during face-to-face interactions.

Investors seek advisors who understand their aspirations and fears. Humans can listen, empathise and adapt communication styles to cater to clients' emotional states. These interactions create a deeper connection, enhancing client retention and referrals.

Striking the balance
The future lies in harmonising AI's capabilities with human intelligence. AI can handle routine tasks, data analysis and initial interactions, freeing up human advisors to focus on personalised consultations and building relationships. AI can aid human advisors by providing insights based on data patterns, enabling advisors to tailor advice more effectively. This approach maximises efficiency and enhances the client experience. Advisors, in turn, can emphasise a brand's values and emotional connections, reinforcing the human element.

While AI offers efficiency and data-driven insights, the human touch is irreplaceable for brand enforcement and emotional connections. Striking the right balance is key: AI can enhance human capabilities and streamline processes, whilst humans can provide authenticity and empathy that AI lacks.

The human-brand connection remains an essential pillar in the digital era, ensuring that asset management businesses not only survive but thrive in the ever-changing landscape.

Connect with one of our experts
If you'd like to discuss how we can help your brand and digital experience have a human touch, please contact Duncan Shaw in New York, Greg Hobden in London or Gigi Yung in Hong Kong.