Perception Analysis on Robo-Advisory in Wealth Management

Abstract

The expansions in the field of Artificial Intelligence (AI) has created a significant impact on different aspects of a human being’s life and it is poised to affect different jobs and tasks across the world. Major industries like tourism and travel, healthcare and pharmaceuticals, industrial manufacturing and production, telecommunication, education, and other sectors are adopting artificial intelligence in an exuberant manner. The objective of this paper is to cognize the perception of investors towards the application of Artificial Intelligence in the form of Robo Advisory in the financial services industry especially in the field of Wealth Management. The aim is to identify the potential impact of Artificial Intelligence in the field of wealth management as perceived by the investors from different age groups who come with varying risk appetites. The methodology used was the primary method of conducting surveys. A questionnaire was suitably designed for the aforesaid purpose. Further, the survey is also intended to evaluate the advantages and disadvantages of Robo Advisory in the field of wealth management.