Human touch, robo-eye

Richard Theo

Being successful in today’s complex financial markets is a matter of processing and analysing tremendous amounts of data as quickly as possible – a task to which computers, with their superior precision and computational power are perfectly suited.

Successful investing also requires discipline and consistency; humans are prone to bias, panic and emotional decision-making, all of which can spell disaster for a portfolio. Many of today’s top institutional investors know this and are increasingly adopting algorithms and automation to avoid losing competitive edge.

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Across financial services, technology is taking centre-stage, driving huge improvements in customer experience, security, risk management and operational efficiency.

But, when it comes to money, savers will need reassurance that their life savings aren’t totally at the mercy of an equation and the success of robo may ultimately depend on there being the right balance of human and machine.

Technology may take the starring role, but there’s a comfort in knowing humans are there in the background, designing, building, and tweaking the algorithms, and ultimately keeping a watchful, reassuringly human eye on the money.

So, in short, the future of robo looks bright, as long as it’s a blend of artificial and human intelligence.

And if the industry meets its phenomenal growth potential, robots could become the servants of human-kind, financially at least, a lot sooner than we think.

Richard Theo is chief executive of Wealthify