Author: Daniel Ben-David
Publisher:
ISBN:
Category :
Languages : en
Pages : 65
Get Book Here
Book Description
We compare readiness to adopt and willingness to pay for (as a proxy for trust) the same financial advice labeled three ways (algorithm, human, and a hybrid of algorithm and human) using an online and a computerized laboratory experiment. Our experiments were conducted before and at the outbreak of the COVID-19 pandemic. We observe a significantly higher readiness to adopt financial advisors during the pandemic, a period of high volatility in the financial markets, compared to before. In the pre-pandemic period, for the same potential financial advice, we observe age and gender differences in the readiness to adopt and pay for the different advice options. These differences hold after controlling for a vector of technology adoption constructs, financial literacy, quantitative knowledge, and personal and demographic proxies. Yet, at the outbreak of the pandemic, we observe less sensitivity to the advisor's purported type and no algorithm aversion. Our findings suggest that during a crisis, individuals care more about having an advisor and are less sensitive to the type of advisor, whereas in ordinary times, they are more sensitive to the type of advisor and overall desire less advice. Our findings relate to the financial, trust, artificial intelligence, and information literatures.
Author: Hoai Trong Nguyen
Publisher: World Scientific
ISBN: 9811286116
Category : Business & Economics
Languages : en
Pages : 461
Get Book Here
Book Description
Research has shown that the pandemic has had a profound impact on the dimensions of environmental uncertainty. With the advent of technology, marketing and advertising have undergone constant development and refinement in order to adapt to the growing needs of buyers and investors alike. This book aims to provide a comprehensive review of strategic management and cultural intelligence, in relation to the measurement of financial information quality in recent times. It illustrates how marketing and advertising have changed from conventional to digital marketing, discussing the latest technological features, in addition to the variety of benefits that existing and emerging immersive technologies can bring to retailers and consumers.The study of the transformation of a market-oriented economy is crucial to a successful transition, along with the advancements in exchange efficiency and effectiveness. The book also covers cultural intelligence and financial literacy among in terms of spending, saving, borrowing, and investment in Vietnam.
Author: Alina Riecker
Publisher: GRIN Verlag
ISBN: 3346321673
Category : Business & Economics
Languages : en
Pages : 80
Get Book Here
Book Description
Bachelor Thesis from the year 2020 in the subject Business economics - Review of Business Studies, grade: 1.1, Reutlingen University (ESB Business School), language: English, abstract: Nowadays, tech companies have entered our lives in nearly every possible area of application, from smart coffee machines to algorithmic-based music recommendations. Logically, it is not a far stretch that the financial sector will also experience disruption through technology-oriented startups. The so-called FinTech’s, short for financial technology, can be independent, newly found startups, or can be implemented by existing financial institutions as a complementary sales channel and span a wide ar-ray of functions, including peer-to-peer lending and crowdfunding, cryptocurrencies and blockchain, and also, robotic investment advice. It is no surprise that this development will affect traditional financial advisory. Mainly robo advisors are seen as one of the most disruptive technologies in the financial sector. What used to be a people’s business and strived through human connections and relationships turned digital: a robo advisor can replace all functions of traditional financial advisors at a lower cost point and while being available 24/7. Based on financial theory, the offer investors personalized portfolios – all through pressing buttons on a phone screen. Whilst promising to streamline financial investment and to make it accessible to everybody, regardless of wealth, customer adoption compared to the global financial service market has been low. Disruptive technologies offer a lot innovative and smart features, but customers might be hesitant to try the solutions. People rely on the experience of others to build trust, and the little experience of early adopters might not be enough to influence trust to a large extent. Trust is an important factor for all services or technologies, but especially in unprecedent areas such as fully automated financial advice. The thesis will be based on a literature review methodology and will assess the theoretical background of trust through analyzing and comparing previously done research on the matter. Additionally, a quantitative study focusing on trust-building factors in robo advisors has been used as a basis to form conclusions regarding the increase of trust. Industry insights, journal articles and conference papers build the foundation of this thesis. They were identified through the usage of scientific search engines, but also through backward and forward referencing searches. This approach provided a multitude of applicable literature from the fields of artificial intelligence and trust.
Author: El Bachir Boukherouaa
Publisher: International Monetary Fund
ISBN: 1589063953
Category : Business & Economics
Languages : en
Pages : 35
Get Book Here
Book Description
This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.
Author: Amalija Pucko
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
After the Global Crisis in 2008, investors started seeking new ways of protecting their wealth. With decreasing trust in financial institutions, alternative solutions for obtaining financial advice emerged in digital shape in the U.S. Robo-advisors are low-cost online services that provide fully automated investment advice aimed at affluent Millennials. Since it does not involve human advice, and due to its rapid growth in the past couple of years, this technology has been classified as a disruption for the traditional financial services. The research questions of the paper are as follows:How will Robo-Advisors impact the traditional investment advice? What is the potential for adoption of Robo-Advisors and what are the crucial determining factors?Research has shown that Robo-advice will become mainstream within the next decade. It will not completely disrupt human-based investment advice, but reshape the industry and ease the process of optimizing investments. Results of the empirical study conducted among students from three European countries have shown that the potential for adoption of Robo-advisors is influenced by cultural differences, digital literacy, and economic factors. Also, students who were more risk-averse tended to be unwilling to adopt the technology due to perceived lack of control over financial decisions and lack of human-based advice.*****After the Global Crisis in 2008, investors started seeking new ways of protecting their wealth. With decreasing trust in financial institutions, alternative solutions for obtaining financial advice emerged in digital shape in the U.S. Robo-advisors are low-cost online services that provide fully automated investment advice aimed at affluent Millennials. Since it does not involve human advice, and due to its rapid growth in the past couple of years, this technology has been classified as a disruption for the traditional financial services. The research questions of the paper are as follows:How will Robo-Advisors impact the traditional investment advice? What is the potential for adoption of Robo-Advisors and what are the crucial determining factors?Research has shown that Robo-advice will become mainstream within the next decade. It will not completely disrupt human-based investment advice, but reshape the industry and ease the process of optimizing investments. Results of the empirical study conducted among students from three European countries have shown that the potential for adoption of Robo-advisors is influenced by cultural differences, digital literacy, and economic factors. Also, students who were more risk-averse tended to be unwilling to adopt the technology due to perceived lack of control over financial decisions and lack of human-based advice.
Author: Peter Scholz
Publisher: Springer Nature
ISBN: 3030408183
Category : Business & Economics
Languages : en
Pages : 302
Get Book Here
Book Description
Robo-Advisory is a field that has gained momentum over recent years, propelled by the increasing digitalization and automation of global financial markets. More and more money has been flowing into automated advisory, raising essential questions regarding the foundations, mechanics, and performance of such solutions. However, a comprehensive summary taking stock of this new solution at the intersection of finance and technology with consideration for both aspects of theory and implementation has so far been wanting. This book offers such a summary, providing unique insights into the state of Robo-Advisory. Drawing on a pool of expert authors from within the field, this edited collection aims at being the vital go-to resource for academics, students, policy-makers, and practitioners alike wishing to engage with the topic. Split into four parts, the book begins with a survey of academic literature and its key insights paired with an analysis of market developments in Robo-Advisory thus far. The second part tackles specific questions of implementation, which are complemented by practical case studies in Part III. Finally, the fourth part looks ahead to the future, addressing questions of key importance such as artificial intelligence, big data, and social networks. Thereby, this timely book conveys both a comprehensive grasp of the status-quo as well as a guiding outlook onto future trends and developments within the field.
Author: Demo F Clarke Abd
Publisher: Independently Published
ISBN:
Category :
Languages : en
Pages : 32
Get Book Here
Book Description
The Investment management industry is no longer one hundred percent controlled by large hedge funds, pension plans, venture capitalist, and the sophisticated investors. The self managed robo-advisor investors now have the opportunity to trade like the professionals, and potentially gain the same profit just like a wall street trader. The Robo-advisor platforms have leveled the playing field, therefore, smart and diligent main street investors can control the market via herd investing.
Author: Asli Demirguc-Kunt
Publisher: World Bank Publications
ISBN: 1464812683
Category : Business & Economics
Languages : en
Pages : 228
Get Book Here
Book Description
In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.
Author: National Intelligence Council
Publisher: Cosimo Reports
ISBN: 9781646794973
Category :
Languages : en
Pages : 158
Get Book Here
Book Description
"The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.
Author: Institute of Medicine
Publisher: National Academies Press
ISBN: 0309182158
Category : Medical
Languages : en
Pages : 376
Get Book Here
Book Description
The emergence of severe acute respiratory syndrome (SARS) in late 2002 and 2003 challenged the global public health community to confront a novel epidemic that spread rapidly from its origins in southern China until it had reached more than 25 other countries within a matter of months. In addition to the number of patients infected with the SARS virus, the disease had profound economic and political repercussions in many of the affected regions. Recent reports of isolated new SARS cases and a fear that the disease could reemerge and spread have put public health officials on high alert for any indications of possible new outbreaks. This report examines the response to SARS by public health systems in individual countries, the biology of the SARS coronavirus and related coronaviruses in animals, the economic and political fallout of the SARS epidemic, quarantine law and other public health measures that apply to combating infectious diseases, and the role of international organizations and scientific cooperation in halting the spread of SARS. The report provides an illuminating survey of findings from the epidemic, along with an assessment of what might be needed in order to contain any future outbreaks of SARS or other emerging infections.
