Are Roboadvisors Taking Jobs from Humans?

  • Grace Noto
  • September 1, 2016
  • 4

© Can Stock Photo Inc. / nicesceneThe fintech community sure is bullish on roboadvisors.

At least, that’s the takeaway from the Twitter poll conducted by @INVFintech, this site’s sister accelerator. The poll was part of a Twitter chat held today under the hashtag #INVchat.

The discussion ranged from robos to cross-border payments, the latter discussion seeing active participation from the foreign currency exchange Borderless. The crossborder payments discussion touched on — naturally — blockchain, as well as questions about the role of SWIFT.

And at the time of this post, poll voters were decisively on the side of roboadvisors taking jobs from humans in the near future. Disagree? Vote below.

This mindset is due to the fact that human advisors both cost more and tend to be slower than computers, though on the other hand, at this point roboadvisors are still just machines, and using data to calculate someone’s financial goals can only be done at this point with the combination of human experience and intuition. Robos, it has been pointed out, do not actually do much “advising.”

Join us next week for another poll using the #INVchat hashtag.

To learn more about fintech trends, join us at Bank Innovation Israel, November 1-3.Register here

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