Should AI assistants be allowed to provide financial advice?

Use these indicators to tag your arguments by copy and pasting them from here. Please use proper indentations for Objections

• Pro Argument in favor of the position
• Con Argument against the position
  • Objection Objection to the argument.
    • Objection Objection to the objection.

And note that the Pro one position, is usually an Con another position. You do not need to duplicate your arguments, just add it once in the relevant section.

Position: Yes, AI assistants should be allowed to provide financial advice

Relevant details, definitions and assumptions regarding the first possibility.

• Pro Not everyone has access to financial advice and this offers more democratic access.
• Con Financial advice carries a lot of risks and AI systems are not yet at a point where they can be trusted to give good advice.
• Con Financial advice is highly personal and most AI systems cannot take enough personal context into account.

Position: No, AI assistants should not be allowed to provide financial advice

• Pro Argument in favor of the second possibility.
• Con Argument against the second possibility.

Position: AI should only be allowed to provide financial advice if...

• Pro Argument in favor of the third possibility. - If it can be shown that the use of AI Fin Advisor reduces rather than increasing income/wealth disparities
  • This is a case where the explicit "purpose' or role of the AI -- give financial advice -- may be minor compare to its social outcome - increase or reduce wealth discrepancies.
• Con Argument against the third possibility.