Getting ready for the robo-advisors
Tan Jee Yee | 06 Jul 2018 00:30
It may sound wonderful or terrifying or purely uninteresting, but regardless of what you feel about it, you can expect artificial intelligence to permeate many aspects of our lives in the near future.
Even wealth management couldn’t escape it, as we now brace for the inevitable arrival of robo-advisors in Malaysia.
No, we won’t likely be seeing a cybernetic organism (with living tissue over metal) imparting useful investment advice in an Austrian accent anytime soon (give or take another decade).
Robo-advisors are digital platforms that provide automated, algorithm-driven financial planning services, with little to no human supervision.
Typically, a robo-advisor platform collects information from clients about their financial situation and future goals, then uses the data to offer advice or automatically invest client assets.
At its core, it’s about relying on artificial intelligence to help you make sounder financial decisions.
Download and read the latest issue of Focus Malaysia here: