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0 0 0 0 0.00323630414067132 0.00327226307556774 -0.00303852999874138 -0.00843237023319368
Stock impact report

Lloyds pilots AI investment guidance tool as UK regulator studies impact [Yahoo! Finance]

Lloyds Banking Group Plc American Depositary Shares (LYG) 
US:NYSE Investor Relations: lloydsbankinggroup.com/investors
Company Research Source: Yahoo! Finance
tool to help customers make investment decisions, ?even as AI's impact on the tightly regulated financial advice industry comes under ?scrutiny. The British bank told Reuters it was piloting the AI-powered tool with a small group of customers through ?its Scottish Widows pensions and investments arm, offering what it describes as investment “guidance” rather than advice. The product is expected to be widened later this year. The move to harness AI is the latest initiative in efforts by British lenders to compete against specialist wealth managers that dominate ?the financial advice market. HSBC, Barclays ?and Lloyds have all increased investment in this sector, looking to win market share and expand their fee-based business as lending income is hit ?by low interest rates. Scottish Widows Chief Executive Chira Barua said the tool would act “like a satnav for investments”, helping customers to navigate options without making decisions for them. The distinction matters. Guidanc Show less Read more
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