Navigating artificial intelligence in financial services: Confidence, care, and compliance

Financial professionals are embracing artificial intelligence tools, but must balance innovation with regulatory diligence. Here’s how firms can adopt new technology while safeguarding clients.

The pace of technological change has accelerated dramatically, with artificial intelligence advancing to the point where business professionals now employ tools like ChatGPT, Copilot, and Gemini to free up time and improve productivity. In financial services, these solutions are already reframing how advisors approach client challenges and daily tasks, from no-code web app development to automated content drafting. Yet, the transformative potential of artificial intelligence brings not just new possibilities but an inflection point—comparable to milestones like the printing press or the semiconductor—that promises continued rapid innovation and market disruption.

However, for regulated industries such as finance, embracing artificial intelligence involves much more than enthusiasm for the latest technology. Broker dealers and financial advisors operate under strict oversight. The introduction of any new software, including artificial intelligence-powered tools, demands rigorous due diligence to remain compliant with rules outlined by regulators like FINRA. Specifically, firms are urged to never expose personally identifiable information to artificial intelligence tools unless those tools meet stringent safeguarding criteria. Regular consultation with compliance officers or oversight organizations (OSJs) is advised before adding or evaluating technology options to ensure approved integrations and to potentially access group discounts.

To support secure adoption, Osaic, a broker dealer firm, has vetted solutions such as Jump and Zocks—meeting note-takers that save professionals hours each week by automating follow-ups and task summaries. These tools are specially tailored for financial services, prioritizing integration and security. To make the most of artificial intelligence tools while mitigating risks, best practices include exclusively using broker-dealer-approved solutions, carefully reviewing artificial intelligence-generated notes for accuracy, and always obtaining explicit client consent before capturing or processing conversations. Looking ahead, Osaic and its partners plan to expand approved offerings, with new tools like GReminders´ artificial intelligence Companion in the pipeline, emphasizing a measured and responsible approach to technology. As the financial sector continues to assess future breakthroughs, one thing is clear: embracing artificial intelligence with confidence and care has never been more crucial for delivering exceptional client service and advice.

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