I was involved in an FT podcast this week, on the cost of and problems getting professional indemnity insurance for financial advisers. What I learnt from the other expert (yes, I know) on the panel, was that the problem is not that the insurers have to fork out for lots of claims against us, quite the opposite. It’s that our regulators and the ombudsmen might at any time change the rules or order a review of certain kinds of business which might, who knows, lead to claims; and a field day for the cold callers and texters: ‘Have you ever had a financial adviser? Did they wear a red tie and drive a Porsche…?”
“Is the AI hype machine losing steam?”
Many of the reviving rises in stock markets, particular 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’.
