Can a robot compete with a human in the field of wealth management?

 

Advanced technologies, especially the development of AI, are significantly modernising wealth management services, write Maksym Koretskiy and Illia Kyslytskyi.

Maksym Koretskiy is a financial expert Blackshield Capital Group, and Illia Kyslytskyi is the group’s head of the analytics department..

Thanks to innovations in the 2000s, robo-advisors emerged in the field of wealth management – platforms with an automated investment portfolio management process requiring minimal human intervention and taking into consideration individual client requests.

Today, about 50% of millennials are interested in robo-advisor services, and this figure is almost twice as high as the level of interest of the previous generation. (...)