The United
Kingdom has the most advanced financial technology available in the world and
even with the threat of Brexit removing all these advancements, still, newer
technologies for government financing advisories would soon grow from the soil
-- one of them are auto-responding "Robo-Advisers." These are just
the banks' way of cutting down on its employee fees by having robo-advisers
take over the jobs of asset managers.
Asset
managers to be removed and replaced by robots and artificial intelligence would
not happne in na instant. According to Pensions and Investments Online, the era
of robo-advisers is still early and the institutional asset management sector
would not use the technology immediately.
According to
Casey Quirk Boss of Money Mangement Jeffrey Levi, the trend is unlikely to
receive mainstream implementation just yet as most advisers focus on liquid
asset classes focused on long-term investments alone -- which would limit the AI's
capability to advise short-term investors -- hence bringing back traditional financial
advisers.
According
to Mercer LLC Wealth Management Boss David Hyman, the individual investor is
still of high value as the stage of advisory AI is still unsatisfactory with
its results and are quite "disruptive." However, Hyman himself
believes that the growth of the industry will rely on these new technologies.
