Revolutionizing Financial Advice: The Role of Agent-Based AI
Swiss banks have traditionally utilized AI through chatbots and voicebots, yet this approach falls short of fully leveraging advanced AI capabilities. Renowned tech leader Bill Gates cautions against underestimating AI’s potential over the next decade. A recent SBA survey reveals that banking professionals anticipate AI-driven, partially autonomous advisory services emerging within three to five years, particularly in tax, succession, investment, and wealth management.
Agent-based AI will evolve beyond simple interactions, enabling self-execution of complex tasks and enhancing efficiency and user experience. However, to harness these benefits, banks must address challenges like building trust through transparent AI decisions, clarifying liability issues, and ensuring stringent data privacy and security measures.
The Model Context Protocol (MCP), introduced as an open-source standard, facilitates controlled AI access to digital services. Swiss Fintech Innovations is at the forefront, developing necessary infrastructures. Banks should start defining agent-based advice roles and modernizing data landscapes to stay ahead in this transformative journey.
