Many of the reviving rises in stock markets, particularly in the US in the last year or so have been driven by AI. Not those buy-and-sell computerised algorithms we’ve heard so much about for years now; but the share prices of the big tech companies ‘at the heart of the AI revolution’. Whether or not this is a bubble akin to the .com frenzy or, believe it or not, a quarter of a century ago has been previously debated here and elsewhere. I’d say not, as those big tech-ers now do actually make a profit. It may, however, be at the very least overdone. Apple, we hear, has stopped trying to build driverless cars, which were one of the many next-big-things; and the AI that keeps trying to correct my spelling while writing this article is more the a tad annoying. AI will be a gimmick for some time, I’d say, and other things and themes will continue the revival of investments. That’s what Robbie the Robot has just told me to say. Exterminate!
“Letter of authority: Why now is the right time for change”
This may sound like a non-issue from outside the world-of-financial-advice bubble. It is the bain, however, of the daily working lives of many of us, particularly of those paid by we advisers to do the dirty work of dealing with the many providers with whom we have to work.
