Robo-advice and artificial intelligence (AI) are two different things that both have the potential to disrupt the UK financial services market in the next few years, according to technical specialist and entrepreneur Phil Goffin. But sci-fi it is not...
Is my toaster a robo-adviser? No. Robo-advice is nothing more than modern portfolio theory with an emphasis on digital experience and a good customer interface , said Goffin, who is director of product innovation at International Financial Data Services (IFDS). The proposition infiltrated the US market over the past few years and is on the brink of entering the UK financial services industry, with the potential to become disruptive to the market in the coming few years, he said. Related reading: FCA we're primed for robo-advice Robo-advice propositions are highly value...
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