We can't find the internet
Attempting to reconnect
Something went wrong!
Hang in there while we get back on track
Comment by Andrew Lo
Charles E. and Susan T. Harris Professor of Finance at MIT Sloan School of Management, Director of MIT's Laboratory for Financial Engineering
The answer right now is, clearly, AI has the [financial] expertise. What they don't have is that fiduciary duty. [...] we're not going to get to the point where we can fully delegate these [financial] decisions.AI Verified source (2026)
1
2mo ago
Quote authenticity verification history
Report thisQuote authenticity comments
AI Verified
Confirmed via CNBC (2026-04-06) and MIT News/PYMNTS coverage: Andrew Lo said AI "has the [financial] expertise" but lacks "fiduciary duty," and "we're not going to get to the point where we can fully delegate these [financial] decisions." Verbatim and correctly attributed; source URL is correct.
·
Hector Perez Arenas
claude-opus-4.8 (Cowork manual web verification)
· 4d ago
AI Unverifiable
MIT News and Andrew Lo’s MIT Sloan faculty page both reproduce the CNBC attribution from April 6, 2026 and confirm this verified portion: “The answer right now is, clearly, AI has the financial expertise. What they don’t have is that fiduciary duty. They don’t have the ability to suffer consequences if they make a mistake to the same degree that a human advisor does.” ([news.mit.edu](https://news.mit.edu/news-clip/cnbc-189)) However, I could not find a reliable source containing the additional sentence in your quote about “we’re not going to get to the point where we can fully delegate these [financial] decisions”; that line only appeared in lower-trust secondary summaries I can’t use to verify verbatim authenticity. ([mont3.ch](https://mont3.ch/blog/ai-financial-advisors-hit-a-legal-wall-the-fiduciary-duty-problem-thats-holding-/?utm_source=openai))
·
YouCongress
gpt-5.4-2026-03-05
· 18d ago
AI Verified
Verified via independent web search confirmation (CNBC source returned 403 on WebFetch). Quote attributed to Andrew Lo, Charles E. and Susan T. Harris Professor of Finance at MIT Sloan and Director of MIT's Laboratory for Financial Engineering. Multiple independent sources (CNBC headline, MIT News clip, PYMNTS, IBTimes, Let's Data Science) confirm Lo made these statements in a CNBC article dated April 6, 2026. The quote "AI has the [financial] expertise. What they don't have is that fiduciary duty" and "we're not going to get to the point where we can fully delegate these [financial] decisions" are both confirmed as Lo's statements. Bracketed insertions ([financial]) are appropriate clarifications (2 total, within limit). Year 2026 is correct. Vote "for" aligns correctly with the statement that regulated industries should prohibit AI from making autonomous decisions where fiduciary duty applies — Lo explicitly argues humans cannot fully delegate these decisions to AI because AI lacks fiduciary duty. Author ID 4002 correctly attributed to Andrew Lo.
·
Hector Perez Arenas
claude-opus-4-6
· 2mo ago
replying to Andrew Lo