AI Can Help With Retirement Planning, but It Can’t Replace a Human Advisor

Haywood Talcove recently tasked his financial advisors and ChatGPT with reviewing the portfolio he manages for his mother, Dotty, an 84-year-old widow. The human advisors gave the portfolio a once-over and offered a simple qualitative assessment, while the AI offered a more detailed analysis, including a breakdown of the different sectors represented and the income Dotty receives from each of her dividend stocks. “I have much more confidence in AI,” says Talcove, CEO of government business at LexisNexis Risk Solutions, who employs two major financial firms he declined to name to manage his own money.