There are close to 50 Indian early-stage start-ups in the investment advisory business leveraging artificial intelligence to penetrate the middle of the financial pyramid
Algorithms and patterns charted by robots are slowly making inroads into the investments advisory business. Given their significance, the robo-advisory approach is emerging as one of the hot areas for fintech start-ups, something that is coming across as the next big disruption in the space. In fact, according to YourStory Research, there are close to 50 Indian early-stage start-ups flocking around this sector. Robo-advisory leverages client information through algorithms, automating and recommending tailored investments to individuals. However, what we are talking about is the consumer slab of robo-advisory. Historically, wealth managers who have serviced high net-worth individuals (HNIs) have always been equipped with the most basic form of data analytics. Now, start-ups are leveraging the power of artificial intelligence (AI) to penetrate till the middle of the financial pyramid (i.e. the banked populations of the country).