Finch’s Post

PASA - Pensions Administration Standards Association CIC just released guidance on the use of AI, headlined by the pragmatic message to ”Embrace the opportunity with caution”. The guidance provides some good advice and signposts pension providers, administrators and trustees to some key areas of opportunity and risk. Opportunities: It gives some examples of where pension providers are using AI effectively - chatbots/virtual assistants to improve service, predictive analytics on engagement, fraud detection / risk management, automated document processing, knowledge management, investment strategy optimisation and member feedback analysis. Key risks and considerations: It outlines some key areas to consider ranging from understanding AI, data quality, data privacy and security, managing and minimising bias and discrimination, transparency and accountability, the importance of human oversight. What it doesn't do: This is high level guidance, more focused on “what” than “how”. It doesn’t provide a lot of detail on the practical steps to get started and be successful on an AI journey. PASA does however recommend consulting with AI specialists. At CreateFuture we have decades of experience in the pensions industry and AI playbooks we can rapidly deploy to provide confidence and clarity within weeks on areas like: 🎯 AI strategy 🔍 Data readiness 💡 AI opportunity identification and validation 🛡️ AI governance, policies and guardrails 🛠️ Technology and tooling 🤝 People, culture, skills and change management So if you are working in pensions and want to explore the opportunities for AI in a pragmatic and no-nonsense way then please get in touch and we’ll be happy to chat! Full PASA report available here - https://lnkd.in/ef4aE4m3 #AI #Pensions

🚨 Your financial advisor might be obsolete sooner than you think. A groundbreaking University of St.Gallen study just revealed something that will change retirement planning forever: AI isn't just coming for retirement provision—it's already here. Here's what caught my attention: ✅ 80% cost reduction through automation ✅ 24/7 personalized robo-advisors ✅ Custom pension plans based on your health data ✅ AI-powered fraud prevention ✅ Optimized investment strategies that adapt in real-time But here's the kicker: 80% of pension fund professionals expect "massive productivity gains" from AI integration. The research identified 7 key transformation areas, but the most shocking finding? AI will change retirement provision "faster than any regulation" can keep up. This isn't about replacing human expertise entirely. It's about hybrid models where AI handles the heavy lifting while humans focus on strategy and relationship building. The question isn't whether AI will transform your retirement planning—it's whether you'll be ready when it does. What's your take: Will you trust AI with your retirement future, or stick with traditional advisors?

The landscape of retirement plans is undergoing significant transformation, driven by technology and strategic shifts. As highlighted in '6 Trends Shaping the Future of Retirement Plans,' today's benefits leaders are transitioning from traditional administrative roles to leveraging AI for strategic advantage.Key insights include the expansion of financial wellness programs, pivotal in securing employees' futures while addressing the rising challenge of legal risks. Moreover, delegation plays a critical role in managing these evolving risks, particularly in response to escalating costs.To maintain competitiveness, organizations must enhance their retirement income solutions and anticipate future risks. How is your organization adapting to these new priorities in retirement plan management?#hr #businessautomation #productivity https://lnkd.in/eFR3urET

The real danger of AI in retirement funds isn’t misuse... It’s underuse. We’re too cautious... Too slow... Too afraid of mistakes... While other industries race ahead, trustees are still debating whether AI belongs at the table. Used responsibly, AI helps boards: - Understand complex data faster - Ask sharper questions - Serve members better Fear won’t protect our members. Progress will. AI won’t wait for the retirement industry to catch up. It’s time trustees stop asking if they should use AI, and start asking how to use it safely.

🚨 Your retirement could be completely transformed by AI—and it's happening faster than you think. A groundbreaking study from the University of St.Gallen just revealed something that should grab every professional's attention: "AI will change retirement provision faster than any regulation." Here's what they discovered: ✅ Automation gains rated 4.03/5 by pension experts ✅ 24/7 personalized financial advice (no more waiting for appointments) ✅ Custom pension plans based on YOUR specific data ✅ Optimized investment strategies that adapt in real-time ✅ Advanced fraud prevention protecting your savings ✅ Healthcare integration for comprehensive planning ✅ Personalized financial education tailored to your needs The reality? 80% of pension fund experts expect massive productivity gains. While most people are worried about AI taking jobs, smart professionals are asking: "How can AI secure my financial future?" The three-pillar system is already under pressure from rising life expectancy and low interest rates. AI might be the solution we've been waiting for. But here's the catch: You need to understand these changes NOW to position yourself for the future. Are you preparing for an AI-powered retirement system, or are you still planning like it's 2020?

💰 1 in 4 Americans now believe AI can handle ALL their retirement planning. But here's the scary part: 19% have already lost over $100 following bad AI advice. The numbers are staggering: • 20% of Americans are using AI for financial guidance • 35% of Gen Z trusts AI for major financial decisions • Nearly 1/3 rarely double-check AI recommendations • High earners are 2x more likely to rely on AI advice Why the surge? Two main drivers: ✅ Convenience (38% of users) ✅ Cost concerns (21% want cheaper advice) But here's what's missing: AI can crunch numbers and provide instant answers, but it doesn't understand YOUR unique situation. It can't factor in your family dynamics, risk tolerance, or life goals the way a human advisor can. The biggest risk? AI "hallucinations" - when it confidently gives completely wrong information about complex retirement strategies. The smart approach isn't choosing AI OR human advisors. It's using both strategically: → Use AI for quick research and initial planning → Consult humans for major decisions and personalized strategy → Always double-check AI recommendations Your retirement is too important to trust to algorithms alone. Are you using AI for financial planning? What's been your experience?

For those preparing for #Retirement or guiding others through it, the question isn't whether or not to embrace AI, it's how to embrace AI.

𝐓𝐡𝐞 𝐇𝐮𝐦𝐚𝐧 𝐀𝐝𝐯𝐚𝐧𝐭𝐚𝐠𝐞 𝐢𝐧 𝐑𝐞𝐭𝐢𝐫𝐞𝐦𝐞𝐧𝐭 𝐏𝐥𝐚𝐧𝐧𝐢𝐧𝐠 With recent headlines limiting ChatGPT’s ability to provide financial advice, it’s clearer than ever that real expertise can’t be automated. At CKS Summit Group, our advisors merge decades of experience with cutting-edge technology to design custom retirement strategies that AI alone simply can’t replicate. Discover why the human advantage still leads the way in retirement planning. Read the full blog now: tr.ee/6ar5Hs #RetirementPlanning #WealthManagement #CKSSummitGroup #FinancialStrategy #HumanExpertise

Data Is the Bedrock of AI in Pensions AI is transforming pensions administration, offering new ways to improve efficiency and member engagement. Yet one principle remains constant: AI is only as good as the data that powers it. High-quality, well-governed data is essential for accurate predictions and reliable outcomes and trustees confidence. PASA - Pensions Administration Standards Association CIC’s new guidance sets clear expectations for schemes to strengthen data quality, structure and oversight before adopting AI tools.   Read our latest blog on why data is the foundation of AI in pensions and how to prepare for the opportunities ahead. https://lnkd.in/e-nqU-Vf

🌊 The AI tsunami isn't coming—it's here, and it's transforming workplace benefits from plan design to fiduciary protection. Want to stay ahead of the wave? Dive into Prescience 2030: The Next Wave—a must-read for anyone in retirement plans and employee benefits. 👉 https://lnkd.in/gKeq9cwh" 🌊