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Please use this identifier to cite or link to this item: https://dspace.lboro.ac.uk/2134/32441

Title: The impact of robo-advice on financial advisers: a qualitative case study
Authors: Coombs, Crispin
Redman, Alex
Keywords: Robo-adviser
Financial advice
Automation
Augmentation
Qualitative
United Kingdom
Issue Date: 2018
Publisher: Academy for Information Systems © The Authors
Citation: COOMBS, C. and REDMAN, A., 2018. The impact of robo-advice on financial advisers: a qualitative case study. IN: Proceedings of the 23rd UK Academy for Information Systems (UKAIS) International Conference, Oxford, UK, 20-21 March 2018.
Abstract: One of the most significant recent technological developments concerns the application of robotics and Artificial Intelligence (AI) to skill-intensive, knowledge-based jobs. The financial adviser is a role that has been identified as being under threat from automated robo-advice services. However, there are conflicting views on the future of human financial advisers. It has been argued that human financial advisers will soon become obsolete because robo-advisers are lower cost and make fewer mistakes. Conversely, it has been argued that financial investment is an emotional process that requires empathy and reassurance that cannot be provided by automated robo-advisers. In this exploratory study we use service encounter theory to explore the key elements of the financial adviser job role, identifying where human interaction with the client was considered to be valuable. Our findings suggest that roboadvisers are likely to augment rather than substitute human financial advisers.
Description: This is a conference paper.
Version: Accepted for publication
URI: https://dspace.lboro.ac.uk/2134/32441
Publisher Link: https://www.ukais.org/
ISBN: 9780956027252
Appears in Collections:Conference Papers and Presentations (Business)

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