According to Reuters, as of Feb 1, ChatGPT (the new AI robot on the block), reached 100 million monthly active users in two months after launch, making it the fastest-growing consumer application in history. It has passed law exams in four courses at the University of Minnesota and another exam at the University of Pennsylvania’s…
Most people assume we seek financial planning advice to help us achieve our financial goals, but the truth may be a little “darker”. I have often wondered why the percentage of people seeking financial planning advice remains so constant, despite scandals (like the Hayne Commission), onerous compliance requirements and a service that is costly, inefficient…
The QAR (Quality of Advice Review) is proposing that “good” financial advice be “good enough”, rather than following the current “best interests” rule. If the advice is reasonably likely to benefit the client, based on their circumstances at the time the advice is given, then it will pass the test. Following the banking royal commission,…
In the future, every company will become an IT company. Those who don’t will fumble on with a “Frankestein tech stack” giving them little or no advantage. According to Chad Brooks of Business.com, “The most successful and highest performing companies have little separation between their business strategy and their technology strategy. In short, they have technology as…
Mirror, mirror on the wall, what is the best product of all? APIs (Application Programming Interfaces) are the new “magic mirror”, opening up a wealth of information curated by someone else who maintains and updates the data. We use them regularly, “Hey Google, give me directions to Martin Place”. Financial services have been invited to…
