Robo-advice in its current form is no longer exciting in a technological sense and will not be around for much longer than five years, a technology expert has predicted.
International Financial Data Services director of innovation Phil Goffin said the industry needs to invest more in different types of technology to be able to give consumers what they want. Speaking at a TISA seminar in London on 11 February, he suggested artificial intelligence (AI) applied in financial services would outsmart the human brain in the next few years in terms of its capability. Corporates are already exploring AI technology but the financial services industry has remained heavily invested in legacy technology, which is a problem, Goffin said. Robo-advice proliferated...
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