There are news saying that some financial institutions begin to have robot advisers in their financial advice services. And some people also argue that robot advisors can provide better services to clients than human advisors can. According to their words, software is far better at most jobs than people can. And it is especially true in the world of financial advice.
I personally think that these statements are half right and half wrong. I believe that software can do better work than human in some aspect, but not all of them. It is true that most financial advisors heavily rely on models and software to give advice to their clients, but they also need to use their human brain to evaluate something that software cannot do. In addition, I believe that those financial advisors who have better performance, they give advice based on their own knowledge and experiences, which robots do not have. Last but not least, most people would feel more comfortable and prefer people who have more in common rather than robots to provide services.
I think if robots can cooperate with human to provide financial services, financial institutions can offer clients with better advice.
http://www.fintechbusiness.com/industry/662-robo-advisers-better-than-humans-wealthfront
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Interesting article. Robo-advisors are definitely a good option as they aim to make our lives more efficient and help people who have just ventured into investment banking. But in my opinion they might not quite yet replace the insurance agents. It will be interesting to see in future whether people still prefer the personal touch or are willing to succumb to technology.