The rise of robo-advisors

Everyone has heard of Artificial intelligence and how it will certainly revolutionize the World. AI has been around for quite many decades now and some people have lost hope in it, but AI has recently made some tremendous improvements that will change the way we think about money and investments. AI is in fact now emerging in a new area of the financial World: the financial advices. This new trend, which is developing at a rapid pace, will have many tangible applications for individuals. Two of the best applications of AI in the financial field are the use of "chatbots” and the development of robo-advisors. Chatbots are AI programs that simulate interactive human conversation. Chatbots (which exist already) will allow clients to have immediate responses to most of their questions at any time. No need to wait for your advisor to be back in his or her office anymore. The second application are robo-advisors. Robo-advisors are digital platforms that provide automated, algorithm-driven financial planning services with little to no human supervision Robo-advisors have (at least in theory) the advantage of offering unbiased (whether emotional or financial) recommendations to the clients. In short, artificial intelligence is making possible to automate a set of very complex tasks, such as analyzing large amounts of data, while having the capability to deliver custom-made solutions to each individual. This is a revolution that will not affect the financial industry specifically but all areas of our lives.