Artificial Intelligence has changed how freelancers work and what they work on. Billing, though - the more they change, the more they stay the same. En.money.it asked award-winning financial writer Hannah Duncan about what it’s like to freelance today.
Hannah Duncan is Headline Money’s Headlinemoney Blogger of the Year for 2021 and 2022, and a finalist in their Financial Reporter of the Year as well. As an alumna of UBS and BNP Paribas, she knows the financial and investment world from the corporate inside, as well as from the viewpoint of the freelance writer. She is currently based in London.
Hannah was kind enough to give a sketch of the state of freelance financial writing in 2024. The industry has changed greatly with the development of new technologies and increasing adoption of some during the COVID lockdowns. En.money.it thanks her for taking the time to share her perspective with us.
Has the rise of AI platforms made it easier or harder for you a freelancer?
Interesting question! In some ways, since the launch of ChatGPT, it’s become harder for me to earn “easy money” with easy articles. A few years ago, a lot of my work was writing “what is a bond?” kind of content for investment platforms and fintechs. Nowadays, most of that has been automated.
It’s a lot cheaper to get a robot to write this content, but I don’t think it’s necessarily better. A robot cannot adapt copy for a firm’s unique marketing strategy, understand readers’ irrational fears or make finance relatable. It could also quote fake news, putting firms at risk with regulators.
When it comes to the more complex financial articles though, nothing has changed. I still write articles, whitepapers and books like before. The main difference is that I need to charge a little more for them, to make up for the shortfall.
Do you find that post-COVID, it’s easier to speak with people remotely?
I was already remote-working two years before COVID hit, so honestly it didn’t make much of a change!
Most of my interviews nowadays either take place over video calls or at industry events. Personally, I prefer video calls because there are lots of services that transcribe or record conversations. You mentioned AI in the previous question. I would say that transcription apps like Read.ai or Temi have transformed my life. Before these, I had to painstakingly type out every word. Now it’s done for me in minutes.
The onerous part of freelancing has always been getting paid. Can you say that it’s changed since you got started - is billing and getting hold of the right people for that any easier or harder?
Like everything, it depends so much on the people you work with. I tend to find that the bigger the organisation, the longer they take to pay. Sometimes it takes four months, other times it takes four minutes.
In general, most of my clients pay within thirty days or so (after a nudge). But honestly, cashflow is a huge problem. Right now, for example, I am owed more than £10,941.38 by nine different clients. But the amount of money I have available in my bank account is €53.70. And I don’t get any extensions on my bills, so I am caught in the middle.
Sometimes it really gets to me and makes me want to quit. I can’t tell you how upsetting or frustrating it is when you can’t pay your bills because someone hasn’t bothered to process your invoice. But that feeling goes after a few minutes, because I truly love what I do and the freedom it brings me!
Why do you freelance?
Writing is my soul. Even when I am not working, I am still usually writing. Freelancing gives me the opportunity to tell stories, learn new things and share lifechanging information.
My purpose is to shine a light on sustainable investing and expose greenwashing within the industry. I love it, and I wouldn’t change it for the world!
Argomenti
