Presentation Open Access
Exploring Human Replacement: A Literature Review on Robo-Advice
Altrock, Sophie; Mention, Anne-Laure; Aas, Tor Helge
The emergence of robo-advisors (RAs) raises crucial questions revolving around the balance of human intervention and machine component in wealth management, calling for a deeper understanding of a model where human and machine coexist. This paper focuses on the impact of automation and AI on the shifting role of financial advisors. Through a systematic literature review, it aids understanding how RAs are defined, how they are evolving, and how they interact with human financial advisors. Findings show that a consensus as to whether RAs will replace human financial advisors or not does not yet exist. Based on the literature review, we suggest a conceptual framework with two possible strategies for human-robot-coexistence in wealth management and a future research agenda. To successfully implement RAs into the workplace, we call for a deeper understanding of how organisations can help to adapt their workforce to accommodate automation technologies.
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- Publication date:
- June 5, 2022
- DOI:
-
- Keyword(s):
- robo-advise innovation management artificial intelligence workplace automation human-robot-interaction
- Grants:
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European Commission:
- EINST4INE - European Training Network for InduStry Digital Transformation across Innovation Ecosystems (956745)
- Meeting:
- The XXXIII ISPIM Innovation Conference "Innovating in a Digital World" (ISPIM), Copenhagen (Denmark), 5-8 June 2022
- Communities:
- License (for files):
- Creative Commons Attribution 4.0 International