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Two speakers at the upcoming Broker Innovation Summit Melbourne – Silvio Giorgio, data and AI executive, and Chris Borg, CEO & MD at Borg Financial, My Virtual Broker, and Raine & Horne Shoreline – outlined why broking professionals must embrace AI, or risk being left behind.
At the summit, Giorgio will explore AI mega themes in a session titled three questions at the heart of AI, while Borg will outline practical applications of AI for boosting efficiency at every stage of the broker journey.
“We are starting to see a shift from digital-prime to AI-prime,” Giorgio said.
“We will start to see shifts in the way we search company and buy products as AI becomes better at performing these tasks with more integrations.
“Strangely, this will start to make existing digital interfaces start to feel cumbersome, possibly even laborious.”
With the introduction of AI already having serious implications for the future of broking, it’s critical brokers rapidly adapt to the emerging technology if not already embedded into existing workflows.
“Brokers who aren’t using an AI tool are already at a disadvantage,” Borg said.
“Those using AI tools have an edge and are reaping rewards with improved efficiency.
“As the AI innovation progresses we will see more and more brokers adopt the AI tool best working for them.”
Brokers don’t need to be AI experts to start, said Borg, who suggested brokers “take some time not to be afraid of trying out and experimenting with the plethora of different AI suites available.
“While ChatGPT is widely known, it’s important to know there are so many different tools available that can help with email marketing, automation, social media content, and reporting analysis,” he added.
“There is no right or wrong answer, just experience.”
While the benefits are vast, AI implementation also comes with significant risks, said Giorgio.
“We will find it increasingly difficult to know what’s real,” Giorgio warned.
“Images developed by AI look real, so do the videos they generate. Voice generated by AI sounds like a real person, and can be made to sound exactly like you.
“Deep fakes have caused harm, and their potential to cause greater harm increases as the technology gets better.”
Borg also cautioned security concerns related to AI, warning users to implement foolproof review processes to ensure data output is accurate.
“Some of the risks include security of your data and who you are trusting with that data. Making sure that if you are using AI for outputting data that the data set is accurate,” Borg said.
“Thus checking and proof reading outputs of the AI is an important step as it can make mistakes or not produce the result you expected.”
While AI does pose some risks, the benefits are unmatched, and for brokers, implementing AI is no longer just a competitive edge, but a necessity.
To learn more about AI disruptions in the broking industry, come along to the Broker Innovation Summit Melbourne 2025.
Run in partnership with principal partner NextGen, the summit will take place on Tuesday, 23 September 2025, at The Edge, Fed Square in Melbourne. Click here to buy tickets.
To learn more about the summit, including speakers and agenda, click here.