AI: A Valuable Partner in Finance and Investment

People should stay in control of their own money, even as artificial intelligence becomes more common in finance. That's the key message from Simon Shimanski, head of growth at global firm XTB, who says AI should be a partner and assistant in financial decisions, not the decision-maker itself.

Speaking at Google's Financial Summit during Abu Dhabi Financial Week, Shimanski explained how he sees AI's role in personal finance. "AI should give people faster answers and provide better reviews and clearer pictures of what's happening in the financial sector," he said. "But fundamentally, people should make the decisions themselves."

This perspective matters because financial firms are racing to integrate AI into their platforms. Many promise automated trading and hands-off investing. But Shimanski's company is taking a different approach - using AI to enhance human decision-making rather than replace it.

XTB started with basic AI applications like customer support, onboarding new clients, and identity verification. Now they're building more sophisticated tools that work directly with customers through their app. The goal is to give traders better information and analysis, not to trade for them.

For Shimanski personally, AI has become a daily discussion partner. "I don't treat it as some oracle that will give me answers and solutions to my problems," he said. "I see it as a discussion partner I can talk with about all my ideas, potential decisions, and strategic vision for the company."

He talks with his team and senior executives, but also has "conversations" with AI that help him make better future decisions. This approach treats AI as a sophisticated analysis tool rather than an authority.

The broader impact could be significant for financial markets. As more firms integrate AI, the question becomes whether they'll use it to empower individual investors or replace their judgment entirely. XTB's approach suggests there's value in keeping humans in the driver's seat.

Shimanski believes AI will transform every sector globally, though implementation may vary by region. "This is a big step for humanity," he said. "What we need to do as humans is understand how AI can help us. We shouldn't think of AI as a threat to our jobs or businesses, but as a tool that helps us become better and develop ourselves."

The key benefits he sees are increased productivity, enhanced effectiveness, and greater creativity - all leading to better results. But only if people learn to work with AI rather than let it work for them.