The other day, I was talking to an individual who just got a new job. They will be working in the financial planning sector as a financial investment advisor. I don't envy them because I realize all the ongoing education and testing requires just to get the license and to maintain it - and that's before you get a single customer. As I got to talking to them about asset allocation and diversifying of investment portfolios, they explained to me that the firm they had signed up with had all of that under control.
All they had to do was ask the customer or client various questions and plug them into the "investment diversity decision matrix," I guess you'd call it. Well, if that's so, then why and Earth would anyone need a financial planning investment advisor? I mean a computer can do all that. Actually it already is in this case. All the financial advisor has to do is go out and get the clients, bring them into the office, ask them some questions, have them fill out forms, find out their risk level, amount of assets, projected age of retirement, and how much money they have to invest today.
Trust me when I tell you that a computer can do that. Not only can a computer give you the right answer, but it already has the right questions figured into the process. Do you remember when the IBM Watson supercomputer (well almost a supercomputer) beat the best humans on the planet in Jeopardy? Now they have this computer system diagnosing diseases based on symptoms, genetics, family history, age, diet, and where they live in case they happen to live in a cluster known for such health ailments. Well, if it can do all that - it could certainly figure out a balanced portfolio for each and every individual that signs up.
There was an interesting YouTube video titled; "IBM Watson-Introduction and Future Applications," which was published on Aug 2, 2012 and the description stated; "David McQueeney of IBM at EDGE 2012 speaking on IBM Watson System, its architecture, functionality, performance and future applications.
In this video it noted that their system was in fact being used in the financial sector, and they had a special advisor to the IBM Watson innovation team. What I'm telling you is; this potentially eventuality that I've described above is not only coming, it seems it is already here. Yes it's true that humans probably want their own human investment advisor to help them, but in the future that may not be necessary.
In fact, everyone may be able to get financial planning advice even if they have very little to invest and no investment advisor would care to set up an appointment to talk with them. Now they would be able to get that planning by merely plugging in their information into a computer - and then waiting .00256432761 seconds for the best answer along with Watson's new list of questions and answers. Do you see that point? Indeed I hope you will please consider all this and think on it.
All they had to do was ask the customer or client various questions and plug them into the "investment diversity decision matrix," I guess you'd call it. Well, if that's so, then why and Earth would anyone need a financial planning investment advisor? I mean a computer can do all that. Actually it already is in this case. All the financial advisor has to do is go out and get the clients, bring them into the office, ask them some questions, have them fill out forms, find out their risk level, amount of assets, projected age of retirement, and how much money they have to invest today.
Trust me when I tell you that a computer can do that. Not only can a computer give you the right answer, but it already has the right questions figured into the process. Do you remember when the IBM Watson supercomputer (well almost a supercomputer) beat the best humans on the planet in Jeopardy? Now they have this computer system diagnosing diseases based on symptoms, genetics, family history, age, diet, and where they live in case they happen to live in a cluster known for such health ailments. Well, if it can do all that - it could certainly figure out a balanced portfolio for each and every individual that signs up.
There was an interesting YouTube video titled; "IBM Watson-Introduction and Future Applications," which was published on Aug 2, 2012 and the description stated; "David McQueeney of IBM at EDGE 2012 speaking on IBM Watson System, its architecture, functionality, performance and future applications.
In this video it noted that their system was in fact being used in the financial sector, and they had a special advisor to the IBM Watson innovation team. What I'm telling you is; this potentially eventuality that I've described above is not only coming, it seems it is already here. Yes it's true that humans probably want their own human investment advisor to help them, but in the future that may not be necessary.
In fact, everyone may be able to get financial planning advice even if they have very little to invest and no investment advisor would care to set up an appointment to talk with them. Now they would be able to get that planning by merely plugging in their information into a computer - and then waiting .00256432761 seconds for the best answer along with Watson's new list of questions and answers. Do you see that point? Indeed I hope you will please consider all this and think on it.
No comments:
Post a Comment