Josh Daniell

And the reason that I might not shift is just inertia.

It's annoying to have to sign up to another service or first of all, figure out what the best product is and then go through the signup flow and then move everything across to

And that kind of admin job, AIs are very happy to do.

It does not bother them at all.

So to make this real, everyone listening has got deposits.

A lot of people listening have got a loan of some sort or a credit card.

A lot of people have a KiwiSaver account or other investment accounts.

and what the ai will be able to do is cut through all the marketing nonsense and just look at what is actually the best financial product for you and for nearly everyone that will not be your current financial products so my sort of long arc of hope for how ai is going to disrupt things is that it will reduce the inertia for people being in the most optimal financial product

Exactly.

And it would have the context of whether that particular customer has bought their first home and therefore whether the conservative fund actually might make sense for them if they're planning to buy their first home in the immediate term.

But yes, it would be doing that and it would be able to do that every day.

And then, you know, coming back to that sign up process, we have for many years in New Zealand and other countries been talking about digital identity as a way to reduce the inertia.

And so the idea with digital identity is that I put my identity information into a service.

So when I sign up with a new provider, it's very easy to share that information and there's not the hassle of doing it, filling out forms each time.

But AI might just be a way to bust through those processes without needing digital identity because the AI is very happy to fill out those forms.

And if you give it access to your information, then it can do that on your behalf and

Yes, big topic when it comes to AI.

What are the boundaries of what you give it access to?

And can we trust it to stay within those boundaries?

So that is a much bigger question than how this works in financial services.