There’s a technique in phobia treatment that exposes people to the very thing that they fear most. But the financial services industry isn’t offering exposure therapy to customers; its focus is efficiency and cost savings.
While artificial intelligence is accelerating across the industry and wider workplace operations, there is a risk that customers will push back on solutions that are being sold to them as beneficial for their dealings with those who look after their money.
The contrast may become clear as firms roll out AI-enabled tools aimed at simplifying complex financial decisions, while at the same time research highlights mounting workforce concerns about the technology’s implications.
Transamerica is the latest provider to push forward on digital transformation, unveiling “Pearl,” a virtual assistant designed to streamline retirement plan rollovers by integrating AI, data and human guidance into a single workflow. The platform aims to reduce administrative friction and help participants complete transfers more quickly.
“Imagine consolidating retirement accounts—something that historically could take weeks—now completed in just days,” the company said in announcing the launch. The firm said the tool can shorten typical transition timelines by more than 50%, reflecting broader industry efforts to harness automation and personalized digital experiences to enhance participant engagement.
“Pearl makes it easier for our retirement plan participants to take action with clear guidance and timely support—while ensuring a Transamerica representative is readily available if a personal conversation is their preferred choice or the best next step,” said Oriana Freidenberg, head of customer experience and marketing.
The hybrid approach reflects an emerging industry consensus that digital tools can boost efficiency without fully replacing traditional advice channels.
A recent report highlighted how financial advisors believe that the adoption of AI will not mean losing their job.
Finastra’s recent Financial Services State of the Nation 2026 research indicates US financial institutions are moving faster than their global counterparts in adopting artificial intelligence, with 65% already deploying AI use cases compared with a 61% global average.
The report suggests this lead could widen as investment accelerates, with 42% of US firms planning to boost AI spending by more than 50% this year. Based on responses from more than 1,500 financial leaders across 11 markets, the findings point to growing confidence among US institutions in their ability to modernize technology infrastructure and leverage innovation to strengthen competitiveness.
However, the study also highlights ongoing challenges that could slow broader implementation.
Around half of US respondents cited regulatory complexity and compliance demands as key obstacles to scaling AI initiatives, while talent shortages and skills gaps were also frequently flagged as constraints.
The report further notes that AI adoption is being concentrated in functions such as data analytics, credit decisioning and document processing, reflecting a continued focus on efficiency gains and risk management even as customer expectations evolve toward more integrated human-digital service experiences.
But adoption momentum in the industry may clash with unease among workers who are increasingly questioning how AI will reshape their own careers and daily responsibilities, potentially making them skeptical about using it at all.
A recent study from MetLife found that while 80% of employers say AI tools are already embedded in everyday work tasks and 83% believe the technology is improving speed and productivity, employees are not universally convinced of its benefits.
According to the research, 61% of employees are worried about risks tied to AI, including bias, misinformation and accountability gaps, while 59% fear that automation could make existing skills obsolete more quickly than new opportunities emerge.
Tensions are also being felt at the organizational level. About 67% of employers surveyed said AI adoption is creating new points of friction or mistrust between management and staff, underscoring the cultural challenges of integrating advanced technologies.
For the financial services sector, the juxtaposition highlights a delicate balancing act. On one hand, firms see AI as a pathway to faster service delivery, lower operational costs and more personalized financial guidance. On the other, employee skepticism about the technology’s ethical and economic impact may complicate adoption strategies.
The diverging narratives suggest that successful implementation will depend not only on technological capability but also on communication, transparency and continued access to human expertise.
As providers double down on digital innovation, they face increasing pressure to demonstrate that automation can enhance rather than erode long-term financial security and workplace confidence.
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