Not long ago there was a headline declaring that Artificial Intelligence – a robot – at a big bank had done in just a few seconds work that had taken lawyers 360,000 hours to do the previous year.
News like this can be frightening, especially if you’re law school.
But I can’t help wonder, where is the headline proclaiming – “Programmers work for 360,000 hours but the robot fails to have a meaningful conversation?”
When advisors are doing a good job, we are not only posing questions, but also prompting more productive questions from our clients.
It’s a mutual process of discovery, and artificial intelligence – Bots – can’t do it.
It’s where needs and expertise intersect with trust. The algorithm for that human connection is nowhere in sight.
So, if you are human advisor, that’s the good news.
But while the bots may not be able to make human connections, they can make it harder for us to earn a living doing so. Bots don’t have to worry about margins.
Given the explosion of robo-platforms making access to insurance, investments, legal documents easier and cheaper than ever, you would think more people than ever would have those essentials in place, but the opposite is true. The robots are failing to connect with most people.
Those fintech, insure-tech, pick your tech disruptors have not filled the void they helped create.
It turns out that it’s easier to kill the human advisor’s margin than to replace that advisor.
If mutual discovery is our value as advisors, and eludes our robot counterparts, then the question follows; Can we do more of it?
What if we could scale our unique value?
At Complete Connection we take a page from those tech start up innovators to help advisors do the things that successful startups do to scale their value. Specifically, leveraging technology and each other.