The case of robo-advisors and how they impact the bot industry

The financial industry adopted the concept of robo-advisors in 2000. Robo-advisors carried out manual tasks and automated repetitive tasks on behalf of a person. Early robo-advisors were computer softwares used by (human) wealth managers in the financial industry. They served them by collecting information from their clients about their financial situation and future goals, and then using that data to offer advice and/or, eventually, automatically invest their clients' assets. It was all about automating processes, based on specific parameters, and coming up with the best recommendations or decisions.

With their consumerization, modern robo-advisors have completely changed the way investments are made by delivering the service straight to the consumer, eliminating the need to go through a wealth manager to make investments. Almost overnight, it was possible for everyone to handle their assets on their own.

Today, it is common to...