Quick Insights:
- AI is evolving from machine learning to generative AI and now automation, enabling advisers to better engage with clients and be more productive.
- HUB24 is investing in innovation that leverages our technology and data expertise to enable the delivery of accessible financial advice.
- HUB24’s Innovation Lab collaborates with technology providers, universities and advisers to solve industry challenges together.
Established in 2018, HUB24’s Innovation Lab has been at the forefront of integrating AI into the financial advice industry.
Dr Evan Morrison, Head of the Innovation Lab at HUB24, believes its test and learn approach has been instrumental in discovering innovative ways to address pain points in the industry.
“We’re leveraging technology and innovation to solve some of the advice industry’s biggest challenges, starting with data and processes to drive productivity.”
To accelerate this, HUB24 partnered with leading tech providers such as Microsoft, Google, and AWS, using their AI models to co-develop and test solutions purpose-built for financial advice.
HUB24’s Innovation Lab also partnered with universities including the Queensland University of Technology, on a master’s project that used machine learning to make sense of unstructured advice data.
“Fresh thinking is an important part of innovation,” said Morrison. More than 25 graduates have now interned at HUB24’s Innovation Lab, where they are encouraged to think creatively and challenge the status quo.
This collaborative approach to technological innovation in the advice industry is not prescriptive, rather it focusses on sharing insights and knowledge to enhance productivity and drive transformative change.
Keep exploring how HUB24 is shaping the future of advice.
Return to our Productivity Hub for insights on AI, innovation, and how we’re enabling better outcomes for advisers and their clients.
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