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Implementation of AI in Financial Planning

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AI focuses on a future where machines not only do all of the manual labour, as they have done since the industrial revolution but also the work which requires Intelligence such as planning, strategizing and making decisions. Every year we observe a change in Artificial Intelligence trends that set a standard for the following year. As Artificial Intelligence technologies are expanding, they are becoming crucial for businesses that want to maintain their mark in the competitive world of the Corporate Community. Usually, Financial Advisers meet their clients once or twice every six months, hence the communication is maintained via telephone calls or different communicating software, whereas AI is always ON. Financial technology companies, in recent years, have increased the use of machine-advisory Systems in order to meet their requirement of handling more complex tasks such as tax-loss harvesting and selective investment in order to optimize their business. – PowerPoint PPT presentation

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Title: Implementation of AI in Financial Planning


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Implementation of AI in Financial Planning
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(No Transcript)
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AI focuses on a future where machines not only do
all of the manual labour, as they have done since
the industrial revolution but also the work which
requires Intelligence such as planning,
strategizing and making decisions. Every year we
observe a change in Artificial Intelligence
trends that set a standard for the following
year. As Artificial Intelligence technologies are
expanding, they are becoming crucial for
businesses that want to maintain their mark in
the competitive world of the Corporate
Community. Usually, Financial Advisers meet their
clients once or twice every six months, hence the
communication is maintained via telephone calls
or different communicating software, whereas AI
is always ON. Financial technology companies, in
recent years, have increased the use of
machine-advisory Systems in order to meet their
requirement of handling more complex tasks such
as tax-loss harvesting and selective investment
in order to optimize their business.
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AI Shaping your Financial Plans
Many Research and efforts have been given to
improve financial planning with the help of AI
implementation. Pefin is the outcome of such an
effort. Pefin helps in guiding us through the
financial priorities that matter like?kids,
college, education, a new home, retirement plans,
and so on. It takes care of every suggestion for
the financial need that matters from taxes to
personal financial solutions so you can guide
your future to a more financially reliable path.
AI Financial adviser vs. Human Advisor
  • Elimination of human faults One of the most
    important disadvantages of using Human Financial
    Adviser is greed. Most of the human advisers are
    commission-driven they manipulate their clients
    and push them into low benefits scheme in order
    to take advantage of high commission funds.

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  • Back Testing Since the record is always
    maintained in the Database, so the developers can
    objectively test the performance, and
    continuously improve to bring the highest quality
    advice to users.
  • Sometimes, it becomes quite awkward to discuss
    your financial details and plans to a human. Use
    of Financial-advisory-robot can eradicate this
    situation, and help you open up with your plans
    comfortably. More comfort implies better
    precision of the result.
  • A person seeking financial advice might not want
    to wait for a semi-annual meeting with their
    financial advisor. Here AI comes to the rescue,
    one can use it anytime based on their
    requirements.
  • Trust is the foundation of a healthy relationship
    between a person and his financial adviser. It
    takes years for building trust, in contrast,
    humans can trust a machine quite readily.
    Moreover, the expected results are also going to
    be more precise.

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Essential Functionalities
  • The Basic feature which must be included in such
    platforms are as follows
  • Registration and Secure Login The User Must be
    able to register an account that belongs to him
    and guarded by password driven security.
  • Confidential Record of Data and Advice History
    Records are important for both user for reference
    and Management Team for testing and improving
    accuracy.
  • Vast categories The application must cover the
    overall financial categories of a person right
    from education, housing and comfort to ideal
    investments.
  • Feedback facilities The user must be able to
    give his feedback which might help the management
    to improve the functionalities.

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If You are planning to build an on-demand
Application for Financial advisory implemented
with AI, then youre at the right place. We are a
team of experienced Android Developers, IOS
Developers, Python Developer, Machine Learning
and AI experts and QAs.We are adequately skilled
and could deliver the on-demand application with
various add-on features like Chatbots, Online
support, Order Tracking, and Instant Payments.
For more queries, please feel free to contact us
here, our exclusively allocated team will be
happy to help you.
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Why choose Lets Nurture?
Lets Nurture is an ISO 90012015 certified IT
service provider offering custom web and Mobile
App Development services for business of any
size. We are confident to be the best in this
field. We also have handsome experience in
developing IoT products and working closely with
various other technologies. If you have any
doubt regarding your business startup, feel free
to talk to our business consultants. Lets join
hands to carve a better tomorrow.
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Interested?
If you are thinking of leveraging huge benefits
in the Web Development and Mobile Apps
development, then what are you waiting for?
Contact us
Hire our Experts Dedicated Developers Now

For more
information, kindly visit www.letsnurture.com to
explore our expertise and other industries we
have catered. Write us at info_at_letsnurture.com
Talk to us 1-631-954-6922
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