Advances in Information Systems (General Track)
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Paper Type
ERF
Paper Number
1640
Description
The financial services industry is facing existence-threatening changes due to the implementation of robo-advisors or applications that deliver and execute financial advice through automated algorithms on digital platforms in financial services. Despite the high practical relevance of robo-advisors, a comprehensive understanding of this technology is missing. We aim at filling this gap by conducting a systematic literature review on robo-advisors using a sample of 39 articles. Our preliminary findings based on the analysis of 18 publications from the IS field demonstrate that prior research mostly focused on customer reactions to robo-advisors, leaving factors that lead to the introduction and development of robo-advisory services, their underlying functionalities and the consequences of their implementation for organizations underexamined. With this study, we aim at extending research on financial technology and supporting organizations that consider implementing robo-advisors in their services by highlighting possible implications of this decision.
Recommended Citation
Moker, Anna, "Robo-Advisors: What Do We Know about This Financial Technology?" (2021). AMCIS 2021 Proceedings. 23.
https://aisel.aisnet.org/amcis2021/adv_info_systems_general_track/adv_info_systems_general_track/23
Robo-Advisors: What Do We Know about This Financial Technology?
The financial services industry is facing existence-threatening changes due to the implementation of robo-advisors or applications that deliver and execute financial advice through automated algorithms on digital platforms in financial services. Despite the high practical relevance of robo-advisors, a comprehensive understanding of this technology is missing. We aim at filling this gap by conducting a systematic literature review on robo-advisors using a sample of 39 articles. Our preliminary findings based on the analysis of 18 publications from the IS field demonstrate that prior research mostly focused on customer reactions to robo-advisors, leaving factors that lead to the introduction and development of robo-advisory services, their underlying functionalities and the consequences of their implementation for organizations underexamined. With this study, we aim at extending research on financial technology and supporting organizations that consider implementing robo-advisors in their services by highlighting possible implications of this decision.
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