Ever dreamed of having a mini-Warren Buffett in your pocket? 📱💸 With the rise of AI-powered chatbots, that dream is inching closer to reality. At least one in 10 retail investors now leans on these automated advisors to pick stocks—fueling a robo-advisory boom across the globe.
According to Research and Markets, revenues in the robo-advisory sector could skyrocket from $61.75 billion last year to a whopping $470.91 billion by 2029—an almost 600% jump! 🌍🚀 These platforms, powered by algorithms and machine learning, level the playing field by offering insights once reserved for big banks and institutional players.
Take Jeremy Leung, for example. After two decades analyzing markets at UBS, he lost his job earlier this year. Now, he relies on a chatbot to manage his multi-asset portfolio. “I no longer have the luxury of a Bloomberg terminal,” Leung says. “AI tools give me access to market data without breaking the bank.”
Leung isn’t alone. A global survey of 11,000 retail investors by broker eToro found that 50% would use AI to pick or tweak investments—and 13% already do. Dan Moczulski, UK managing director at eToro, offers a word of caution: “AI models can be brilliant, but treating them as crystal balls is risky.” He warns that generic AI can misquote figures, stick to biased narratives, or lean too heavily on past trends.
So, should you trust a chatbot with your cash? The consensus: use AI as a powerful tool in your toolkit—but don’t ditch human expertise just yet. 🤔💡 As the robo-advisory market evolves, the smartest investors will blend AI insights with traditional advice to stay ahead of the curve.
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'Chatbot, what stocks should I buy?' AI fuels boom in advisory bots
cgtn.com
