Are you using artificial intelligence (AI) in your work? Whether you’ve embraced it enthusiastically or are still considering its usefulness, none of us can afford to ignore the conversation. The allure of AI tools is undeniable, promising greater efficiency, improved decision-making, and enhanced customer experiences. But amidst the excitement, a critical question looms: Is AI truly beneficial or potentially harmful to your business?
Before answering, it’s important to explore the transformative potential of AI and the opportunities and challenges it presents and make an informed decision about harnessing its power for your firm
Using AI to Streamline Operations
In business, time is money, and leveraging the power of AI can be a game changer. From optimizing client interactions to automating administrative tasks, AI tools offer benefits that can enhance productivity, improve client experiences, and allow busy advisors to devote more time to working directly with clients.
Enhanced Client Touchpoints
Any time a client or prospect comes in contact with your brand is an opportunity to give a positive impression. Any time a client or prospect encounters your brand is an opportunity to give a positive impression. AI-powered tools can assist in creating more personalized and engaging touchpoints. Analyzing client data and preferences can suggest tailored responses and recommendations, ensuring efficient and effective communication and interaction experiences.
Whether responding to inquiries, scheduling appointments, or delivering timely market insights, AI can help you maintain consistent and meaningful engagement with your clients and prospects. Something as simple as having an AI tool write an everyday email can save time and make an impact with minimal effort on your part.
Efficient Workflow Management
AI tools can streamline workflow management within your firm. From scheduling appointments and managing calendars to delegating tasks and tracking progress, you can ask chatbots to optimize your firm’s internal operations and use AI-powered platforms that ensure seamless collaboration and efficient task allocation among your administrative staff and advisors.
Leveraging AI’s Capabilities for Content Marketing
Business owners are brimming with excitement over the possibilities of using AI for content writing. The prospect of automating some of their marketing efforts brings the promise of increased productivity, time savings, and cost efficiency. With AI at their disposal, they envision engaging their target audience, building their brand, and achieving their marketing goals, without toiling over a keyboard or paying a premium to outsource quality content.
But while AI tools offer certain benefits, they also come with notable drawbacks that must be considered before completely relying on them for content creation. Before replacing your content production team with chatbots, here’s what you’ll want to consider.
Like Hiring a Helpful Content Assistant
One of the most helpful ways AI can assist in content generation is by eliminating the necessity for content marketers to start from scratch. This empowers content writers to concentrate their efforts on producing higher-quality content more efficiently.
Idea Generation
One of the biggest challenges content marketers face is coming up with new ideas. Stumped about what to cover next on your blog? AI can help generate ideas for content topics, and the ideas aren’t just random. It can analyze popular trends and make sense of meeting notes, providing valuable insights.
So rather than asking an assistant or intern to scour the web for what’s trending or sort through message boards for burning questions to answer, ask AI. You may not be getting the most up-to-date information, since most chatbots can’t access real-time data, but you’ll have a starting point rather than a blank page.
Time and Cost Efficiency
AI-powered writing tools can also streamline your content-creation workflow, saving time and reducing costs. Specialized AI tools can automate repetitive tasks, such as proofreading, grammar checks, and even generating outlines and rough drafts, freeing up your team’s time for more skill-intensive and strategic activities.
One particularly time-consuming aspect of content production is optimizing copy to fit specific word or character counts. Do you need social share copy for Twitter, Facebook, LinkedIn, Instagram, and a blurb for your email newsletter? AI can present a variety of teasers, intriguing invitations, and questions to engage your audience, persuade them to read your blog content, or take action – all at the right length to suit each channel, complete with keywords and hashtag suggestions.
But Is AI Writing Any Good?
Despite the undeniable strengths of AI-generated content, its weaknesses can’t be ignored. If you’ve seen some decent output and you’re considering firing writers in favor of AI, you’ll be disappointed with the results.
Authenticity, Brand Voice, and Style
When capturing your brand’s voice and delivering authentic content, AI-generated writing falls flat. The tools often produce text that comes across as canned and lacks the human touch needed to connect with an audience. Without the guidance of a skilled writer familiar with your brand, it will strike readers as inauthentic and out of touch.
Your successful and well-educated client base expects a higher level of writing quality and sophistication, which may not be fully met by AI. Chatbots lack the finesse, style, and literary sophistication that a skilled writer brings.
Contextual Understanding and Compliance Awareness
AI struggles with the contextual understanding necessary for complying with industry-specific regulations. It doesn’t comprehend the compliance rules, such as the SEC guidelines for financial advisors, which govern what can and cannot be said in your content. Relying solely on AI-generated content will expose you to legal and reputational risks.
Most AI tools don’t have access to real-time data and may make inferences and draw conclusions based on outdated information. It won’t be able to recognize right from wrong and may miss critical insights that could mislead your audience.
AI Hallucination
A significant concern when relying on AI for writing marketing content is the potential for something called “AI hallucination,” which is when a large-language model (LLM) tool, such as ChatGPT, generates false or inaccurate information. LLMs are trained on vast amounts of data, including both reliable and unreliable sources, which can lead to the generation of misleading or factually incorrect content. It presents this misinformation in a believable, confident manner, which could erode your credibility with your clients and prospects.
SEO and Plagiarism Concerns
If you’re not careful, AI-generated content will have negative implications for your website’s search engine optimization (SEO). Using output as a basic, rough draft or starting point for sections of a blog post is one thing, but directly copying and pasting complete content with the intent to pass it off as your own could lead to trouble. And chatbot-produced content lacks originality; it may be flagged as plagiarism or detected as AI-generated, impacting your search rankings and undermining your credibility.
As a financial advisor, ensuring the accuracy and reliability of the information you provide to clients is crucial. Exercise caution and thorough verification when using AI-generated content. To achieve the highest quality content, I recommend an approach that combines the strengths of AI tools to support your process with the expertise of skilled writers.
Embrace the Future but Proceed with Caution
AI tools can revolutionize operations and streamline everyday tasks in your practice. From client interactions and onboarding processes to workflow management and content marketing assistance, AI can boost your client experience as well as your own and that of your staff and vendors.
But it’s not a one-size-fits-all tool, and the need for careful human oversight can’t be overstated. Striking a balance between AI’s capabilities and the expertise of skilled professionals ensures a harmonious approach that maximizes AI’s potential to exceed the expectations of the most discerning clients.
