Fear not: AI won’t replace marketing compliance jobs in financial services

Businessman holding glowing lightbulb with virtual brain and orange light . Creative new business idea concept.

Since the early days of science fiction, people have been worried that automation will replace the human element in many jobs. In reality, the “rise of the machines” is a very good thing.

Let’s look back a bit – we were once concerned that automobiles would mean no one would walk or ride horses or bicycles anymore. But as we know, those modes still exist and have largely evolved into recreational choices rather than a standard means of transportation. Later on, financial services professionals heard that voice response units and fraud detection tools would wipe out call center and fraud prevention jobs. As we know, those careers are still alive and well. Financial services is still one of the driving sectors of the economy and this type of intelligent detecting has saved countless billions of dollars in fraud losses.

Today’s reality is that artificial intelligence is not going to replace the human review of marketing materials; it will simply enhance it. Allowing AI to do the rote and analytical work can save the really tough (and interesting) stuff for your marketing and compliance teams. Think of it this way: if they don’t need to worry about the minutia, what can a sharp marketing mind really be doing? If they don’t need to wonder, “is that disclosure accurate”, what can a terrific compliance person be focused on instead?

Artificial intelligence is no more than a tool – yes, a sophisticated tool, but really no different than the thousands of inventions in our lives today. Reviewing documents in microseconds and ensuring consistency across thousands of documents are things that, let’s face it, AI does better than you or I.

Does AI need checks and balances? Absolutely. That’s why humans are involved and will likely always be involved. Think of the cruise control on your car — even in the best vehicles, you still want someone there to guide and adjust (or rapidly brake!!) based on the conditions. That analogy is also true for artificial intelligence. It is artificial and needs some level of human oversight, but it can enable faster, more accurate delivery and allow your team to focus on bigger picture items.

One of our customers at MetaBank, Jenn Warren, SVP of Partner Services and Delivery, recently said, “It’s not a matter of AI replacing people.  It’s a matter of AI partnering with our people, backing each other up.  We believe that’s the first foundational step to being able to achieve greater speed-to-market without simply adding more and more people.”

Simply put, if you use AI the right way, it enhances jobs, not eliminates them. To learn more about using AI as a trusted advisor for compliance in content reviews, click here to read the MetaBank Case Study.