How to Automate Your Practice with AI Automations (on-demand)-Course recording

Video Transcription

Video Summary

Cynthia Meyer introduced Ben Olson, the founder of BMO Automation, who presented at the NAFTA Conference about using AI for financial advisors. Ben shared his experience transitioning from financial advising to fintech, emphasizing AI's role in optimizing business practices. He aimed to demystify AI and provide attendees with a strategy to implement AI and automation within 90 days.<br /><br />The session covered practical applications of AI like meeting note-taking, document management, and scheduling, highlighting how AI can reduce admin work by up to 10 hours weekly per employee. Ben presented real-life examples of firms enhancing efficiency and client service through AI, suggesting that AI enables advisors to spend more time engaging with clients.<br /><br />He proposed a framework for integrating AI, involving popular tools like ChatGPT and Zapier for building custom solutions. The discussion also touched upon compliance, including best practices for data security and CRM enrichment. Ben highlighted the value of blending off-the-shelf AI tools with customized solutions, stressing the importance of a balanced strategy for successful AI adoption.<br /><br />Attendees discussed challenges like compliance and API constraints. Ben assured that AI won't replace human advisors but will expand access and improve client service. He encouraged continuous learning and adaptation to new AI advancements for sustained growth and efficiency in financial services.

Keywords

AI in financial advising

BMO Automation

Ben Olson

AI implementation strategy

AI tools for advisors

AI compliance

CRM enrichment

AI and client engagement

AI in fintech