Artificial intelligence is changing the finance industry, as new efficiencies are being introduced and traditional roles are being transformed. Whether it be portfolio management or fraud detection, AI technologies are influencing every layer of financial operations. As tools become more advanced, their impact on financial planning is becoming increasingly prominent.
According to research by Deloitte, global investment banks that leverage generative AI could boost their front-office productivity by approximately 25% by 2026. Deloitte identifies AI as a primary driver of productivity within the broader finance industry. Another study by PwC estimates that AI could contribute $15.7 trillion to the global economy by 2030, with $1.2 trillion attributable to the financial services sector alone. This forecast is primarily due to the ability of AI to enhance forecasting accuracy and provide personalized financial advice.
Beyond automation, AI is providing institutions with new ways to make sense of the massive amounts of financial data that were previously left untouched. Natural language processing, for instance, enables AI systems to quickly scan documents, such as news articles, earnings calls, and economic updates, to identify patterns or unusual changes that could impact asset prices. Machine learning tools can adjust trading models in real-time as markets shift, thereby reducing the time between spotting new information and acting on it. These technologies are making things faster and more accurate while also changing the game when it comes to building portfolios and managing risk.
While these platforms offer convenience and lower fees, they often lack the nuance and adaptability that human advisors provide. This has sparked a hybrid model, where financial professionals incorporate AI tools into their practices to improve the quality of their services without replacing the human element. Lucas Noble, founder of Noble Financial Group, has closely followed these developments and sees a clear trajectory for the role of AI in financial planning. According to Noble, the next decade will bring major changes. This will not be through the replacement of advisors, but through the enhancement of their work. “AI is becoming less of a competitive advantage and more of a baseline expectation,” he explains. “It will become the new standard for how financial planning is delivered.”
One area where AI is poised to elevate performance is in data analysis. Financial advisors have traditionally relied on client-provided documents or market trends to create personalized plans. AI-driven platforms can now process thousands of data points in seconds, identifying inefficiencies or untapped opportunities that may go unnoticed in manual reviews. This level of precision allows advisors to tailor strategies even further.
In addition to planning, AI is expected to change how firms approach compliance. Financial regulations are complex and vary by region and client profile. Automated compliance tools can monitor transactions in real time, flagging potential violations or irregularities before they escalate. These systems help reduce the administrative burden on advisors, improve accuracy, and create a digital paper trail that supports regulatory reporting. Noble views this as necessary, particularly as advisors take on more clients in a competitive marketplace. “There’s no room for error in compliance. With AI, the margin for error becomes narrower, which is good for everyone involved,” he says.
Despite the technology’s growing role, Noble stresses the importance of maintaining the human relationship that drives client success. “Financial planning isn’t just numbers. It’s also behavior. People need to feel heard, understood, and guided,” he says. While AI can offer data-backed recommendations, it lacks the emotional intelligence to interpret a client’s anxieties or aspirations. This is especially true during periods of market volatility, when reassurance and long-term perspective are imperative.
The evolution of AI in finance is not about replacing human expertise, but about augmenting it. As tools continue to evolve, firms that thoughtfully embrace AI are likely to deliver better outcomes for their clients. Noble Financial Group is an example of this approach, as it utilizes technology to enhance insight and efficiency while remaining rooted in relationship-driven service.
