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Artificial Intelligence (AI) has the potential to revolutionize the investment advisory industry by providing personalized investment advice, automated regulatory compliance processes, and simplified communication with investors. The SEC has proposed a new rule to address conflicts of interest raised by predictive analytics and has conducted a sweep of RIAs to learn more about current uses of AI. RIAs should be mindful of the potential legal, regulatory, and practical risks presented by AI tools. This note provides an overview of ways AI may be used by investment advisers, highlighting important aspects of the Proposed Conflicts Rules and the SEC’s probe.
