Robo-advisors are one of the most prominent future prospects for the financial sector. Being able to invest in exciting companies and products through an online conversation sounds very attractive.
But artificial intelligence is not sufficient to give proper investment advice. IBM wants to integrate the blockchain into artificial intelligence, and have created a new business unit centered around this concept, with robo-advisers just one of the many exciting prospects.
Robo-Advising Needs More Than Just Artificial Intelligence
The way robo-advising works is as follows; consumers are given advice by a “robot’ through a chat platform. In most cases, financial service providers will rely on artificial intelligence (AI) to provide advice. By using machine learning and deep learning, the AI software can “learn” and be given a more humane appeal to platform users.
The concept of AI has been attracting a lot of attention in the Fintech world. Both emerging and established financial service providers are experimenting with the technology. But some industry experts such as IBM, feel AI alone will not be sufficient and have created a new business unit to merge blockchain technology with artificial intelligence.
Industry Platforms Business, as this new venture is