The hidden stress behind Australia’s AI money revolution

Description

Artificial intelligence (AI) is rapidly transforming the way Australians manage their money. From superannuation platforms using algorithms to optimise portfolios to robo-advisors offering investment recommendations in seconds, digital finance tools promise convenience, speed and lower costs. AI growth is accelerating dramatically. The Deloitte Centre for Financial Services forecasts that generative-AI-enabled advisory tools will surge from virtually zero penetration in 2023 to 78 per cent of the retail investor market by 2028. Deloitte also predicts that financial services not incorporating generative AI – including human advisers – will decline sharply from 2026.