Artificial intelligence and Robo-advisors

 

Robo-advisors are amongst the first to experience changes due to Artificial Intelligence (AI). Over the years, there have been many changes affecting the Financial firms. These include changes to how they do business and in their relationships with clients. In the future, these changes will continue due to automation.

 

The “big winners” will be clients, the “losers” will be financial firms/ advisors who do not embrace the changes. The learning capability of machines is increasing exponentially with the combination of big data, natural language and machine learning.

 

Big data improves the customer’s experience as it “learns about the individual” and their surroundings. This information is then analysed allowing a computer programme to understand/ respond to human speech and to read documents. Machine learning uses algorithms that adapt to changing circumstances and which can run automatically. According to Pricewaterhouse Coopers, 26% of asset and wealth management firms globally use AI to inform their next ‘big decisions’. More and more money is now being invested in this area as a way of targeting the mass affluent. For instance, natural language processes will help firms to comply with the regulations, as machines will adapt to the changes required by the platforms.

 

Clients will also benefit from a much-improved user experience with new interfaces, leaving the advisor able to focus on asset gathering and portfolio monitoring. They will also become more responsive to client needs and increase the added value of their services. At TechRules, our Research and Development team is now working on two initiatives in “Machine Learning” and “Big Data”.

Artificial Intelligence (AI) is very much seen as a key element of the financial sector. Initially, we will focus on a Chatbot, this will respond to different questions with information on the process, definitions, tutorials, specific data, claims and complaints requests, suggestions and FAQ. We are also developing an approach to investment strategy through Predictive Models developing algorithms using “Machine Learning” for Data analysis. Machine Learning allows computers and human beings to work together and to improve productivity

Create and implement your own Robo-Advisor platform according to your needs, using simple and smart technology

 

Sabine BROUN, TechRules Benelux Manager

Would you like to know
more about APIs?

Download our whitepaper to learn more

Download PDF

TechRules and Sinqia: the perfect complete solution for the Brazilian wealth management market

TechRules and  Sinqia S.A., provider of technology for the financial market, announce that they have signed a partnership contract to offer combined back and front solutions for the wealth management of financial entities and covering all the lifecycle of financial advice.   Sinqia´s Product Manager, Marcelo Duarte, says that getting into the Brazilian market is […]

Integration of Tower with Tableau´s interactive dashboards

In TechRules we have been working more than two decades on providing our customers the best information integrated with our state of the art wealth management software.   This is why we have chosen interactive Tabelau´s dashboards to integrate them with our Tower data, so we can introduce in a more effective and understandable way […]

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>