Artificial intelligence could be a game-changer for a variety of industries in terms of enhancing efficiencies and helping companies realize cost savings. While AI is still in its infancy, it’s already delivering those benefits to various businesses.

Count financial services among the chief adopters of artificial intelligence. Banks were swift adopters of chat bots as customer service tools. Additionally, AI can and is playing an important role in back-office functions for custodial banks and wealth management firms. In what could be positive news for AI-heavy ETFs such as the Invesco QQQ Trust (QQQ) and the Invesco NASDAQ 100 ETF (QQQM) , some experts believe the intersection of AI and financial services is just getting started.

Predictably, many novice investors want to know when artificial intelligence will be able to deliver winning stocks. Some advisors fret about robots replacing them. Regarding the former point, the answer is not anytime soon. As for advisors, there’s no need to fret. Scores of survey confirm that clients want human interaction. Still, some QQQ/QQQM AI-related holdings have myriad opportunities in the financial services sector. High-Level Investors Embracing AI

There always was the temptation to use artificial intelligence to pick individual stocks. There are some encouraging points for QQQ/QQQM investors regarding financial services AI adoption.

First, AI is being embraced by institutional investors at companies that have the deep pockets to make long-standing commitments. Second, the technology, while not necessarily being used for individual securities selection, is being deployed in other high-level ways.

“Institutional investors are increasingly leveraging artificial intelligence (AI) to enhance their day-to-day investment processes, and usage will likely soar as the technology advances. AI can automate routine tasks and uncover hidden patterns in vast datasets, improving the accuracy of forecasts, aiding risk management, and optimizing investment portfolios,” noted Moody’s Investors Service .

Further enhancing the long-term case for artificial intelligence enablers residing in QQQ and QQQM gaining more financial services clients is that some financial companies are already aware of the fact that if they’re not quick to embrace artificial intelligence, their competitors will. For banks, trading desks, wealth management firms and other financial companies, artificial intelligence […]

AI Could Transform Financial Services