Investing.com -- Charles Schwab Corp. is planning to use artificial intelligence to extend benefits typically reserved for wealthy clients to customers with smaller accounts.

Chief Executive Officer Rick Wurster said AI will be a "real accelerant" for the 55-year-old firm. Customers must have at least $1 million at Schwab to qualify for a "dedicated relationship," but the vast majority of their clients don't meet that minimum.

Using AI, the firm will be able to offer personalized insights similar to those provided in branches and dedicated relationships, Wurster said in an interview with David Rubenstein for an upcoming episode of Bloomberg Wealth.

Schwab launched a generative-AI product for its customers earlier this month, combining insights on portfolio performance, relevant market news and Schwab analyst commentary.

The move comes after disruption concerns in the wealth-management business sent jitters through company shares, including Schwab's. Wurster previously said that AI would help rather than hurt Schwab.

Wurster, 53, also said he would consider serving in a government role after retirement. He said he would never leave Charles Schwab anytime soon for anything else, but would welcome an opportunity to help the country after he retires.