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Fortune
Fortune
Alicia Adamczyk

AI is on track to ‘democratize financial planning.’ Are investors ready for that?

A financial advisor advises a multiracial couple at home (Credit: Mr Vito)

From creative professions to the tech sector, AI is shaking up industries and daily workflows. And it's coming for the financial services industry next—whether investors are ready or not.

A new report from Deloitte Center for Financial Services posits that generative-AI-enabled applications could become the leading source of advice for retail investors by 2027. The technology is already being used by financial companies to power customer-facing chatbots, prevent fraud, and speed up other tasks like coding. But Deloitte's analysts say it will soon take a much larger role in helping customers fine-tune investment plans.

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