Artificial intelligence, or AI, is now part of all our lives. It’s used in social media, our navigation systems, and many other applications. But can it help you become a better investor?
Many large financial services firms do use AI to select investments for specific funds. And as an individual, you could invest with an AI-powered “robo-advisor.” But investing is highly personal, so you may do better by working with a human financial professional.
For example, a robo-advisor probably can’t help you talk through tradeoffs as you prioritize your goals or provide you guidance on the options for a 401(k) when you change jobs. And it takes another person to know you well enough to understand how you might react to events such as sudden market drops – and help you keep your portfolio objectives in mind.
A financial advisor also can help you align your investment activities with your taxes and estate plans, and possibly connect you with other professionals in these areas.
Artificial intelligence will support many of your activities. But when it comes to investing, a personal touch may never become obsolete.
If you have any questions please contact me at 980-859-2549 or by e-mail at Brandon.Monette@edwardjones.com
This article was written by Edward Jones for use by your local Edward Jones Financial Advisor.