The non-judgement point you mention is very real. Some clients will open up to an AI precisely because there's no human in the room to disappoint. That's not nothing. But I think there's a distinction worth making: AI producing empathic-sounding responses is not the same thing as empathy. One is pattern-matched output, the other involves actual moral stakes, genuine concern, and a relationship with real continuity. The fact that Claude can explain itself empathetically doesn't make the explanation accurate.
Where I'd push back on the "empathy as moat" crowd isn't to say they're wrong that empathy matters. It's that passive empathy, just being human and present, probably isn't enough on its own. The advisers who will thrive, IMHO, are those who bring the kind of depth, continuity, and moral imagination that no model can replicate. AI raises the bar for what good human connection looks like, and perhaps that's the more uncomfortable truth. 🤷♂️
Thanks Neil - I appreciate your comments on AI's sense of empathy alongside moral stakes. As you can see in the thread Jan is already using AI for her money guidance -non judgement being her driver. Another reader doubts humans can offer empathy at all, and instead, should lead with compassion.
What's clear is the need for those in human facing advice and guidance relationships to meet and exceed the bar you refer to. Great challenge!
Fascinating topic and intrigued by the thoughtful comments below. I generally agree that as humans we need human connection and maybe that does need some new skills development for some!
There is an urgent need for all of us but particularly those running businesses, to understand how to use AI better. By that I mean considering different ways of working and not just making manual heavy tasks more efficient.
At the moment I see a lot of cost cutting and the loss of entry level jobs which is causing a huge problem for our young people trying to start their careers.
Bottom line is an urgent need to use AI to stimulate growth in our economy.
I agree Amanda. At the panel I attended Dan went on to say that he thinks, and I agree, AI is a Pascals Wager - ie if I adapt my business to an AI world and it doesn't take over, I have built a better, leaner business. if I don't adapt and it does take over, I don't have a business. Seems to me like ignoring AI is the riskiest choice for those in the knowledge professions
I think this dilemma will apply to many professions Ruth. I’m not sure empathy is totally the right angle. My view of empathy is that you ‘feel’ another person’s anxiety,frustration, embarrassment. In a financial setting I’ve used AI because it doesn’t judge me or my situation and that’s(for me) not empathy, it’s non-judgemental, understanding 😀 Our wonderful English language is finally tuned. We use so many words to cover broad brush issues nowadays eg narcissist, victim, trauma etc- we need to be specific.
Going back to your question- yes I think AI will make a huge difference but we do need to make sure we ask the right questions. This is where an actual human being can stop us going down rabbit holes because we don’t fully understand the subject .Let’s catch up for a glass of rose over the summer x
I agree Jan. and I think the better advisers are starting to realise just what a big deal reaching out can be for clients and holding them accordingly.
I think oftentimes, folk are slightly embarrassed when they reach out to a FA through poor money management, bad decisions etc so finding financial advice that’s compassionate and sound is a gift😍
This is such an interesting topic Ruth. I was at a conference earlier this week and a lawyer was talking about the rapid rise in 'Franken' contracts as a result of AI. It's so easy to share deeply personal, financial, and legal issues with AI — and get a response without judgement. It gives a false sense of being heard and understood. As this continues there could also be a need for real in person human connection.
Thanks Janelle. Is a ‘franken’ contract when certain human rights are revoked? It’s not a term I know…
You’re right about that false sense yet I worry many believe the sense of being heard is enough. I also agree people will still want people, if nothing else to double check what the AI is saying!
Great provocation, Ruth!
The non-judgement point you mention is very real. Some clients will open up to an AI precisely because there's no human in the room to disappoint. That's not nothing. But I think there's a distinction worth making: AI producing empathic-sounding responses is not the same thing as empathy. One is pattern-matched output, the other involves actual moral stakes, genuine concern, and a relationship with real continuity. The fact that Claude can explain itself empathetically doesn't make the explanation accurate.
Where I'd push back on the "empathy as moat" crowd isn't to say they're wrong that empathy matters. It's that passive empathy, just being human and present, probably isn't enough on its own. The advisers who will thrive, IMHO, are those who bring the kind of depth, continuity, and moral imagination that no model can replicate. AI raises the bar for what good human connection looks like, and perhaps that's the more uncomfortable truth. 🤷♂️
Thanks Neil - I appreciate your comments on AI's sense of empathy alongside moral stakes. As you can see in the thread Jan is already using AI for her money guidance -non judgement being her driver. Another reader doubts humans can offer empathy at all, and instead, should lead with compassion.
What's clear is the need for those in human facing advice and guidance relationships to meet and exceed the bar you refer to. Great challenge!
Fascinating topic and intrigued by the thoughtful comments below. I generally agree that as humans we need human connection and maybe that does need some new skills development for some!
There is an urgent need for all of us but particularly those running businesses, to understand how to use AI better. By that I mean considering different ways of working and not just making manual heavy tasks more efficient.
At the moment I see a lot of cost cutting and the loss of entry level jobs which is causing a huge problem for our young people trying to start their careers.
Bottom line is an urgent need to use AI to stimulate growth in our economy.
I agree Amanda. At the panel I attended Dan went on to say that he thinks, and I agree, AI is a Pascals Wager - ie if I adapt my business to an AI world and it doesn't take over, I have built a better, leaner business. if I don't adapt and it does take over, I don't have a business. Seems to me like ignoring AI is the riskiest choice for those in the knowledge professions
I think this dilemma will apply to many professions Ruth. I’m not sure empathy is totally the right angle. My view of empathy is that you ‘feel’ another person’s anxiety,frustration, embarrassment. In a financial setting I’ve used AI because it doesn’t judge me or my situation and that’s(for me) not empathy, it’s non-judgemental, understanding 😀 Our wonderful English language is finally tuned. We use so many words to cover broad brush issues nowadays eg narcissist, victim, trauma etc- we need to be specific.
Going back to your question- yes I think AI will make a huge difference but we do need to make sure we ask the right questions. This is where an actual human being can stop us going down rabbit holes because we don’t fully understand the subject .Let’s catch up for a glass of rose over the summer x
I agree Jan. and I think the better advisers are starting to realise just what a big deal reaching out can be for clients and holding them accordingly.
Ummm I like your take on this Jan. you’re right, language is important.
I understand your point about non-judgment. That’s important to feel in an advice relationship.
I think empathy can still have its place in the advice relationship, for example facing loss -death, ill health, divorce.
Indeed another colleague of mine has suggested we should feel compassion rather than empathy.
Leads me to think that many in the advice professions will need an up-skill to compete!
As for that glass or rosè…let’s! X
I think oftentimes, folk are slightly embarrassed when they reach out to a FA through poor money management, bad decisions etc so finding financial advice that’s compassionate and sound is a gift😍
Superb and thought provoking (terrifying).
It is a tad isn’t it! Thanks Dave
This is such an interesting topic Ruth. I was at a conference earlier this week and a lawyer was talking about the rapid rise in 'Franken' contracts as a result of AI. It's so easy to share deeply personal, financial, and legal issues with AI — and get a response without judgement. It gives a false sense of being heard and understood. As this continues there could also be a need for real in person human connection.
Thanks Janelle. Is a ‘franken’ contract when certain human rights are revoked? It’s not a term I know…
You’re right about that false sense yet I worry many believe the sense of being heard is enough. I also agree people will still want people, if nothing else to double check what the AI is saying!
It’s shorten for Frankenstein, they are typically poorly drafted agreements, copy and paste jobs.
😂 got it. Thanks for enlightening me.