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April 2025

US pension funds to target directors over AI oversight failings

US pension funds are sharpening their focus on director oversight of company AI usage, with three funds across the country adding language to their voting policies on holding them accountable for poor AI oversight. San Francisco’s $33 billion employee retirement system was the first fund to add language to this effect. Trustees voted this year to approve amendments to its proxy voting policy stating that, “where there is evidence that insufficient oversight and/or management of AI technologies has resulted in...

UK. AI ‘transforming’ pensions admin; use by members remains limited

Whilst artificial intelligence (AI) is beginning to play an important role in pensions administration, its adoption by individual pension scheme members remains limited, according to the Trafalgar House Trust & Confidence Index. It found that despite a growing awareness of AI-driven tools, most people were not yet using AI to support their retirement decisions. When surveyed, only 8 per cent of the population reported using AI tools for pension planning. Indeed, the "overwhelming" majority (82 per cent) indicated that they had never...

March 2025

Can ChatGPT Plan Your Retirement?: Generative AI and Financial Advice

By Andrew W. Lo, Jillian Ross We identify some of the most pressing issues facing the adoption of large language models (LLMs) in practical settings, and propose a research agenda to reach the next technological inflection point in generative AI. We focus on four challenges facing most LLM applications: domain-specific expertise, an ability to tailor that expertise to a user’s unique situation, trustworthiness and adherence to the user’s moral and ethical standards, and conformity to regulatory guidelines and oversight. These...

Singapore’s population is aging fast. It hopes AI can help manage its elderly care

From listening devices that detect falls to “patient sitter” systems in hospitals and robots helping with exercise in care homes, Singapore is looking to artificial intelligence to help manage the health of its elderly population. By 2030, a quarter of Singaporeans will be 65 or older — in 2010, the figure was one in 10 — and it’s estimated that around 6,000 nurses and care staff will need to be hired annually to meet Singapore’s health workforce targets. Technology is much needed to help fill the...

The European country tearing up its pensions – and why Britain should take note

Apathy rules supreme in workplace pensions. Almost 30 million people work in the UK’s private sector and for many, a pension contribution is just another line on the monthly payslip. It’s precisely this mindset that government ministers were counting on when they introduced auto-enrolment in 2012, forcing employers into offering workplace pensions but leaving employees with the final decision. The hunch proved to be well-founded. Although workers can opt out at any time, very few have. Within a decade, the proportion with a workplace...

The Coming Revolution in Pension Investment Technology

Artificial general intelligence (AGI) is a hot topic on Wall Street. It’s the new gold rush. Many of us are already using large language models to pull up and assemble information, and sometimes even draft written reports. “Sandboxes” are popping up all over to ingest data in various forms and swiftly produce inferential analytics that would take days for humans. The stock market has gone gaga for companies with credible AGI or quantum computing potential. Some industry leaders are envisioning “superintelligent” systems that theoretically could outthink most...

February 2025

Don’t expect AI to make pension decisions just yet, says CFA Institute

AI is steadily shaping the world of pension management, offering new efficiencies, deeper insights, and consistent challenges for pension managers, according to recent research from the CFA Institute. Genevieve Hayman, senior research affiliate at the CFA Institute, explained while AI’s role in pension management is still developing and surpassing efficiency gains, it’s not yet replacing the human decision-making process. Rather, machine learning tools are enhancing their ability to be more informed and accountable in their fiduciary duties, with AI being...

November 2024

How AI could help modernize pension and retirement systems

The world is going through a seismic demographic transition, as populations age and traditional workforces shrink, prompting challenges for retirement systems that need to adapt to remain resilient. AI may be able to assist, by helping individuals make better decisions about their own retirement and by helping invest retirement assets. Given the importance of retirement, embedding trust into our AI systems is essential before they are deployed to the retirement business. Lifespans and the cost of living are rising...

AI and Longevity: Can Artificial Intelligence Help Humans Live Longer?

As the global population ages, the quest for longevity and enhanced quality of life for older adults has become an urgent focus in the healthcare industry. Recent advancements in Artificial Intelligence (AI) have opened new frontiers in the understanding and treatment of aging-related conditions, prompting a surge in investments aimed at leveraging AI to foster healthier aging. The integration of AI into drug discovery processes has shown promise in identifying novel compounds that specifically target the biological mechanisms of...

October 2024

Hong Kong Sets AI Guidelines for Finance, Eyes Tax Break for Digital Assets

Hong Kong has unveiled its inaugural policy guidelines focused on the use of artificial intelligence in finance, alongside a potential tax incentive for digital assets, in a bid to strengthen its position as a premier business hub in Asia. According to Bloomberg, the new measures aim to create a supportive yet regulated environment for AI and digital asset investment, central to Hong Kong’s strategy to draw international investors back to its markets. On Monday, senior government officials announced a unified framework designed...