Potential disruptions from artificial intelligence and the risk of recession have many planning to save more this year.
The topic of artificial intelligence is likely to crop up when financial professionals gather with their friends or families for July 4 cookouts, if the latest Markets Live Pulse survey is any indication.
About 40% of the professional investors anticipate AI will come up over burgers and beer on the US holiday; 30% of retail investors agree. While the most visible impact of AI is the flood of money into tech stocks, the technology is also mentioned as something that could disrupt the wealth management world.
Clients often bring up AI in conversations about money, according to financial planner Kassi Fetters of Artica Financial Services in Anchorage, Alaska. “The name of the game now is being okay in a constant state of adaptation, learning and change,” she said, adding that younger investors “view AI as another tool, instead of an enemy.”
The risk of recession also emerged as a possible theme to hear about at July 4 festivities or similar gatherings elsewhere in the world, according to the MLIV Pulse survey with 593 respondents globally. At the same time, though — in what could be wishful thinking — 48% of retail investors and 39% of professionals said they will absolutely avoid any conversation about finances at the next family get-together.