Can AI outperform a wealth manager at picking investments?

When technology entrepreneur Edward Morris participated in the $5bn initial public offering of chip designer Arm last September, he adopted an entirely artificial intelligence-based strategy that would result in one of his most profitable investments to date.

He explains that Betterment uses AI chatbots externally to answer customers’ questions and requests “more quickly”. And, internally, he says, AI is enabling the firm to automate manual processes ranging from the creation of meeting summaries and marketing copy to fixing software problems. Employees can then focus on “more strategic work”.

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