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AI-powered ‘robo-advisers’ could plug financial advice gap

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26 April 2023 by John Collett, The Sydney Morning Herald

Article link: https://www.smh.com.au/money/planning-and-budgeting/ai-powered-robo-advisers-could-plug-financial-advice-gap-20230413-p5d08b.html

Australians seeking financial advice may soon be able to get it from high-powered artificial intelligence “robo-advisers”, with experts expecting the underserved sector to be in the sights of the rapidly expanding AI industry.

Angus Woods, founder of Adviser Ratings, which rates financial advisers, says even though rapid advances in robo-advice are being made, he is not expecting the demise of financial advisers any time soon.

“AI applied to financial advice will be transformative, but humans, psychologically, want interaction with a person,” Woods says.


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