Throw another industry acronym (RIAAI?) on the already overflowing pile.
Notoriously tech-shy financial advisors won’t be able to avoid—or at least procrastinate about—artificial intelligence much longer with the release of RIA GPT. It claims to be the “first generative-AI platform specifically for Registered Investment Advisors (RIA).”
Launched by Greenwich, Conn.-based Artificial Intelligence Risk, Inc. it provides advisors with AI efficiencies while addressing governance, risk, compliance, and cybersecurity, according to the company.
It also complies with SEC confidentiality, recordkeeping, and cybersecurity rules for RIAs, the company added.
“RIA GPT is a tool that changes the game for financial advisors when it comes to utilizing AI in productive, secure and compliant ways across their tech and data stack,” Alec Crawford, founder and CEO of AI Risk, said in a statement. “Embracing AI to improve both efficiency and outcomes is top-of-mind for the modern advisor, and RIA GPT allows them to do so effectively and safely.”
He added that with predictive analytics and investment manager security cybersecurity rules working their way through Congress, RIA GPT will increase productivity on an ongoing basis while being compliant with government regulations and safe from cyber threats.
The product features “AI agents,” essentially AI tools that provide specialized services within the company’s platform.
Examples include:
- personal assistant
- business strategist
- legal disclaimer writer
- sales consultant
- marketing strategist, and
- programming assistant.
The enterprise version of the software can integrate with Outlook, other CRM systems, and a RIA’s proprietary data, documents, and other information.
The company was founded in 2023 by Crawford and Frank Fitzgerald. The team boasts “decades of experience in artificial intelligence, financial services, risk management, and compliance. The company focuses on rapid (one hour) private cloud deployment and strict data confidentiality, enabling secure and regulatory-compliant use of AI and generative-AI technologies for organizations across the globe.”
