February 6, 2016
Artificial Intelligence has long been a controversial topic in tech circles and the general public. While it is hard to predict how AI will impact human life, it certainly excites us when we hear of another robot or AI machine getting closer to humanization. In case you have missed it, one AI bot called Evia has already replaced a human. And Evia is not a wealth management advisor as one would expect, rather it is an InsuranceTech startup's creation that threatens to turn the insurance industry upside down.
In a recent report, Bank of America predicted that robots/AI will become a $150 billion market by 2020. As expected, an increasing number of startups are looking to ride the golden wave with innovative solutions and technology.
Players in lending, trading and fraud detection are already using machine learning to provide services. And of course, the wealth management sector is the one most vulnerable to AI (or to benefit from it depending on your point of view) as mach ...