CNBC
Prof. Andrew Lo speaks with CNBC reporter Greg Iacurci about using AI systems for financial planning and advice. “The problem that we have to solve is not whether AI has enough expertise. The answer right now is, clearly, AI has the [financial] expertise,” says Lo. “What they don’t have is that fiduciary duty. They don’t have the ability to suffer consequences if they make a mistake to the same degree that a human advisor does.”