AI helped me automate some of my wealth advisor job. Here's why I'm not worried about it stealing my edge.

What happened: Rick Nott, a senior managing director and private wealth advisor at Angeles Investments, told Business Insider he uses AI to automate data collection and portfolio analysis, and said the technology will not replace human advisors. Key numbers: Nott Why it matters: Nott said AI tools for advisors will be disruptive and others will gain the same connectivity he built, but he said AI does not improve investment decisions and he questions whether it can replace human connection. He also flagged concern that token-based pricing could cost more than current subscription licenses.

Rick Nott, a senior managing director and private wealth advisor at Angeles Investments, told Business Insider he uses AI to automate data collection and portfolio analysis, and said the technology will not replace human advisors.

Nott said AI tools for advisors will be disruptive and others will gain the same connectivity he built, but he said AI does not improve investment decisions and he questions whether it can replace human connection. He also flagged concern that token-based pricing could cost more than current subscription licenses.