Artificial Intelligence. It sounds futuristic, impressive, and maybe even a little terrifying—like something you’d expect in a sci-fi movie where robots take over the world. I’m still convinced that AI is just Skynet in sheep’s clothing and the next step is Judgement Day like in the Terminator movies. But in the 401(k) space, it’s already showing up in places like participant engagement, plan analytics, and investment management. The problem? Most 401(k) plan sponsors barely understand their plan document, let alone a machine-learning algorithm. Let’s be clear: AI can do some pretty cool stuff. Chatbots that answer participant questions at 2 a.m.? Great. Tools that flag eligibility errors before the auditor does? Even better. But here’s where the honeymoon ends—because while AI might make life easier, it also comes with enough legal and compliance baggage to give any sponsor a fiduciary ulcer. I’m still amazed that half of this article was written in AI in my language and that it knew who I was.
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