Sarah Hoffman, Fidelity’s Vice President of AI and Machine Learning Research, explores the evolution of digital transformation and the implications of AI and machine learning trends for the wealth management industry. Prior to the pandemic, Artificial Intelligence and machine learning were massive topics for investors. So, as we reopen into versions of normalcy, Sarah discusses the state of AI as well as potential opportunities and challenges the industry may face. Sarah believes this pandemic highlighted a lot of socio-cultural awareness of biases for technology and AI. She says many companies and universities are trying to improve by becoming more aware of ethical considerations. Sarah notes that AI can be used to help investors choose investment strategies. However, it is important to be aware of the potential ethical issues that could come up. She also discusses using AI and technology to take away some parts of jobs humans don’t want for safety reasons. Additionally, Sarah shares her thoughts on the regulatory environment noting that it depends on the country as some are strongly regulated, while others have little regulation.
Recorded on June 29, 2021.
Transcript available (PDF): https://www.fidelity.ca/cs/Satellite/doc/transcript_podcast_hoffman_ai_machine_learning.pdf