New Delhi, Oct. 3 -- High-quality financial advice has traditionally been accessible mainly to affluent investors. Personalised portfolio planning, regular monitoring and financial guidance based on each individual's risk tolerance and goals, require significant human effort, making such services expensive for smaller investors.

But, artificial intelligence (AI) could change this model by reducing the cost of providing personalised financial advice. This could make tailored investment guidance more accessible to a much wider pool of investors across the country, according to a recent report by EY India.

AI could be particularly important in India as more people from different income groups, cities, professions and age groups start inves...