The financial sector has been incorporating advanced technology such as blockchain and digital currencies, and now artificial intelligence (AI) is being used to improve efficiency. However, AI-powered tools may not be suitable for retail audiences as they may not fully support individuals during financially challenging times and may have algorithmic bias.

While AI has the potential to transform the retail finance sector, oversight is needed to ensure models adjust properly to changing market dynamics. Despite the benefits of AI, there are challenges to overcome, including privacy and regulatory concerns, and it remains unclear whether major financial institutions will have retail-ready AI tools in the near future. Pave Finance is using AI to offer real-time financial advice that is more tax-efficient and less prone to biases, but AI may never fully replace human advisers as it cannot account for human emotion and provide the level of customized, multidimensional thinking that some clients require.