{"id":20999,"date":"2023-11-17T21:24:10","date_gmt":"2023-11-17T21:24:10","guid":{"rendered":"https:\/\/www.thinkadvisor.com\/2023\/11\/17\/why-firms-may-reverse-course-on-ai-plans-in-2024-forrester\/"},"modified":"2023-11-17T21:24:10","modified_gmt":"2023-11-17T21:24:10","slug":"why-firms-may-reverse-course-on-ai-plans-in-2024-forrester","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2023\/11\/17\/why-firms-may-reverse-course-on-ai-plans-in-2024-forrester\/","title":{"rendered":"Why Firms May Reverse Course on AI Plans in 2024: Forrester"},"content":{"rendered":"<div class=\"media_block\"><a href=\"https:\/\/feeds.feedblitz.com\/-\/835486613\/0\/thinkadvisor\/\"><img decoding=\"async\" src=\"https:\/\/images.thinkadvisor.com\/contrib\/content\/uploads\/sites\/415\/2023\/08\/2023-8-30-ChatGPT_Adobe-Stock__640x640_Daniel-Chetroni.jpg\" class=\"media_thumbnail\"><\/a><\/div>\n<div><img decoding=\"async\" src=\"https:\/\/images.thinkadvisor.com\/contrib\/content\/uploads\/sites\/415\/2023\/08\/2023-8-30-ChatGPT_Adobe-Stock__640x640_Daniel-Chetroni.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<p><span>Changing investor behavior will also influence the technology that firms deliver to clients in 2024, Raghavan added. The ongoing high-interest environment has consumers looking more at fixed income investments than they have in decades, yet most mobile investment apps can\u2019t meet the demand.&nbsp;<\/span><\/p>\n<p><span>Only 25% of respondents to Forrester\u2019s <\/span><a href=\"https:\/\/www.forrester.com\/report\/the-forrester-digital-experience-review-tm-us-and-canada-investing-mobile-apps-q1-2023\/RES179063\"><span>digital usability study<\/span><\/a><span> were able to find bonds on a firm\u2019s app, and most apps don\u2019t offer a way to trade them. Fidelity Investments\u2019 app provides the ability to buy a certificate of deposit, but that\u2019s an exception, Raghavan said.&nbsp;<\/span><\/p>\n<p><span>\u201cTo me this seems like a real opportunity to add some bond-screening capabilities and really differentiate in the market,\u201d he added.&nbsp;<\/span><\/p>\n<p><span>Raghavan also expects new types of technology to thrive in 2024 as advisors look to attract validators, a demographic that Forrester defines as younger (average of 43), employed and earning an average income of $106,000. At 42%, this group is now the largest segment in the United States.<\/span><\/p>\n<p><span>These investors are more hands-on with their investments but still want to connect with financial advisors. <\/span><\/p>\n<p><span>Advisors launching or moving a practice need more sophisticated and mobile-first technology to reach this demographic; plus, technology vendors taking full advantage of cloud-based services and products can help deliver this in a matter of weeks, instead of months, Raghavan said.&nbsp;<\/span><\/p>\n<p><span>This new model, which he calls \u201cwealth management as a service,\u201d will challenge some of the existing players in the tech landscape.&nbsp;<\/span><\/p>\n<p><em>(Credit: Daniel Chetroni\/Adobe Stock)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Changing investor behavior will also influence the technology that firms deliver to clients in 2024, Raghavan added. The ongoing high-interest environment has consumers looking more at fixed income investments than they have in decades,&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":21000,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[1],"jetpack_featured_media_url":"https:\/\/blog.lifeinsurance-orleans.ca\/wp-content\/uploads\/2023\/11\/why-firms-may-reverse-course-on-ai-plans-in-2024-forrester.jpg","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/20999"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=20999"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/20999\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media\/21000"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=20999"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=20999"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=20999"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}