AI Trends for Advisers: What's Useful and What’s Not

In many conversations I have, the same concerns about using AI effectively keep cropping up. And honestly, with the sheer volume of new tools, features, and updates appearing almost daily, it’s totally understandable to feel a bit overwhelmed. One moment, there’s the ChatGPT we know (which, by the way, seems to gain a new superpower every few weeks), and the next, we’re hearing about tools we’ve never seen before, each claiming to have “AI-powered” capabilities. It’s natural to wonder: which ones actually matter, and more importantly, which ones bring genuine benefits to our work?

Of course, with this level of hype, we’re bound to encounter a fair share of questionable AI “enhancements” too. (Have you seen the latest model? This pencil – now with AI!). The reality is, while some tools may seem overhyped, others do offer real promise, especially for financial advisers focused on delivering clear, insightful, and engaging advice to clients.

The good news is, you don’t need to be on top of every advancement. What’s more useful is getting familiar with the key concepts behind these tools. This helps you make informed decisions about which ones might actually benefit you, either now or as they continue to improve.

With that in mind, let’s take a look at some of the latest updates, particularly Google’s NotebookLM. This tool offers an interesting range of features, from generating summaries to creating mock audio “podcasts,” which could add genuine value for advisers looking to make complex information more accessible to clients.

Google’s NotebookLM: New Capabilities in Organising and Presenting Information

NotebookLM, powered by Google’s Gemini model, among a host of other functions, offers an innovative way to transform complex documents into accessible summaries, audio files, or even mock podcasts. For advisers, this means new opportunities to explain intricate topics to clients in ways that are both engaging and easy to understand.

Take, for example, the topic of insurance in superannuation—a concept that’s often challenging for clients and even newer advisers to navigate. With NotebookLM’s audio conversion feature, you can turn a technical document or informational page, like the government’s MoneySmart page on insurance through super, into a digestible audio summary. This format provides clients with an accessible, audio-based option for understanding the basics, particularly helpful for those who prefer listening over reading. Beyond client use, this feature can support internal training by converting product and technical explainers into audio resources that staff can listen to at their convenience.

Example Use Case: Here’s how easy it is to create this resource. In just a few steps, I linked the MoneySmart Insurance in Super info page in NotebookLM, provided a simple instruction to “Keep a soft and friendly tone, making the basics easy to understand.” and within minutes, the system generated a 12-minute audio conversation.

The entire process—from linking the document to receiving the output—took under five minutes, and the result was surprisingly effective (click through the link below for a listen). While it may not yet be client-ready, it gives a clear indication of where this technology could be truly helpful in the very near future—think months, not years. Even now, you could take the generated output and easily extract bite-sized pieces of content, refining them to suit your own style and client needs.

This quick process shows how tools like NotebookLM can make it easier to turn complex information into more approachable formats. By simplifying content, we can meet clients where they are and offer resources that support them in understanding their financial options in a way that suits their learning preferences.

Head here to have a listen to the demo created for this.

Key Takeaways for Advisers

• Start Small, Focus on Practical Benefits: You don’t need to be familiar with every new AI tool. Instead, focus on understanding how they can make daily tasks easier, like summarising documents, automating basic tasks, or editing content..
• Prioritise Data Privacy and Security: Always conduct due diligence when adopting AI. Avoid using personal or sensitive client information unless you’re confident in the platform’s security measures. For sensitive tasks, consider tools that support privacy and seek client consent when appropriate.
• Explore Practical Applications Over Time: Many of these tools will mature and improve their localisation (such as accents and region-specific language), so if a feature isn’t relevant now, it may be in the near future.

Limitations to Keep in Mind

It’s worth noting that some features, like NotebookLM’s audio summaries, currently work best in American accents and may not be fully localised for Australian users just yet. But as these tools gain traction, expect to see more adaptable options tailored to broader regions and use cases.

Additional AI Advancements on the Horizon

NotebookLM is just one example of the recent wave of AI updates. Here are a few others we’ll explore further in future editions:

1. Microsoft 365 Copilot’s Expanded Integrations: Many advisers are already using Copilot’s transcription and summarisation features in Teams to capture and review meeting notes efficiently. With new expansions across OneDrive and Planner, Copilot now offers even more tools for document review and project management, making it easier to stay organised and keep track of client interactions.
2. Anthropic’s Claude for Task Automation and Enhanced PDF Extraction: Claude can now handle more complex desktop tasks, including improved information extraction from PDFs. This feature is especially helpful for advisers working with large documents, as Claude can quickly pull out key points and summarise critical information, streamlining document analysis and client reporting.
3. OpenAI’s ChatGPT with Real-Time Web Access: This feature allows advisers to pull current data from the web, useful for keeping up with financial news or checking regulations without searching manually. This is big.

In the next newsletters, we’ll dive into how these features can specifically support client management, document preparation, and ongoing learning.

Takeaway: AI is evolving to support financial advisers in ways that make life easier, from creating engaging, accessible content to automating everyday tasks. Keeping informed about these advancements—even at a basic level—can help you integrate the most useful features into your practice confidently and securely.

Best regards,

Marc Fabris

Risk Hub Founder

P.S. For more on the practical use of these tools, including detailed steps and examples to work through, check out our AI Essentials Program on Risk Hub. It’s still a work in progress, but it's already filled with valuable content to help you navigate and leverage AI effectively.

About Risk Hub

Risk Hub is a central source of tools and resources designed to enhance the delivery of risk advice. Our platform provides quick access to insurer information, a comprehensive service provider directory, and essential resources like PDS links. With growing educational support, including programs like AI Essentials, we're committed to empowering advisers with the tools and guidance that make a real difference in their practice and for their clients.