AI for Advisors Is AI working? + JP Morgan's Coach AI + Microsoft's Empire Strikes Back + Google Finance's AI Reboot
We unpack the hype vs. reality of enterprise AI, why that viral “95% of AI pilots fail” headline was misleading, and where adoption is actually working—especially when human teams and focused, vertical tools move in lockstep. We also compare healthcare’s scribe wave with wealth management, and spotlight emerging tools from big banks and big tech.
00:00 Debunking LinkedIn Studies
01:11 The State of AI: Is It Working?
— AI Adoption Challenges and Insights
— The Role of Human Support in Technology
01:25 Integrating Technology and Human Resources
05:16 Future of AI in Wealth Management
08:04 Healthcare and Finance: A Comparative Analysis
14:01 Emerging AI Tools in Finance
Key Takeaways
Headlines ≠ data. The widely shared “95% failure” stat conflated not attempting custom AI with failing at it; vertical, domain-specific deployments show materially better outcomes.
Humans x AI > either alone. Firms that add trained support staff alongside tech see greater revenue and well-being than those chasing tool count alone.
Point-tool fatigue is real. Frankenstacks (10–15 tools stitched together) erode compliance and morale; plan broader platforms from day one—even if you ship features progressively.
Healthcare offers a preview. Epic’s AI scribe push signals what happens when AI is embedded in the system everyone already uses; expect similar dynamics in finance as core platforms bundle AI.
Independents need a plan. As large banks roll custom AI (e.g., internal assistants for discovery and analysis), RIAs and broker-dealers must decide: build, buy vertical, or ride bundles from Microsoft/Google.
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Get in touch with the hosts: Mark Heynen & James Cantwell