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Automated investment managers, or robo-advisors, have emerged as an alternative to traditional financial advisors. The viability of robo-advisors crucially depends on their ability to offer personalized financial advice. We introduce a…
This online-vignette study investigates the impact of certification and verification as measures for quality assurance of AI on trust and use of a robo-advisor. Confronting 520 participants with an imaginary situation where they were using…
Artificial intelligence (AI) is transforming financial planning by expanding access, lowering costs, and enabling dynamic, data-driven advice. Yet without clear safeguards, digital platforms risk reproducing longstanding market…
We introduce a reinforcement learning framework for retail robo-advising. The robo-advisor does not know the investor's risk preference, but learns it over time by observing her portfolio choices in different market environments. We develop…
Machine Learning (ML) has been embraced as a powerful tool by the financial industry, with notable applications spreading in various domains including investment management. In this work, we propose a full-cycle data-driven investment…
The outlook for the future of artificial intelligence (AI) in the financial sector, especially in financial forecasting, the challenges and implications. The dynamics of AI technology, including deep learning, reinforcement learning, and…
In the last few years, the financial advisory industry has been impacted by the emergence of digitalization and robo-advisors. This phenomenon affects major financial services, including wealth management, employee savings plans, asset…
This paper summarizes the most cogent advantages and risks associated with Artificial Intelligence from an in-depth review of the literature. Then the authors synthesize the salient risk-related models currently being used in AI, technology…
Robo-advisors (RAs) are cost-effective, bias-resistant alternatives to human financial advisors, yet adoption remains limited. While prior research has examined user interactions with RAs, less is known about how individuals interpret RA…
The Artificial Intelligence paradigm (hereinafter referred to as "AI") builds on the analysis of data able, among other things, to snap pictures of the individuals' behaviors and preferences. Such data represent the most valuable currency…
In recent years, a wide range of investment models have been created using artificial intelligence. Automatic trading by artificial intelligence can expand the range of trading methods, such as by conferring the ability to operate 24 hours…
Artificial intelligence (AI) can undermine financial stability because of malicious use, misinformation, misalignment, and the AI analytics market structure. The low frequency and uniqueness of financial crises, coupled with mutable and…
The rapid adoption of artificial intelligence (AI) poses new and poorly understood threats to financial stability. We use a game-theoretic model to analyse the stability impact of AI, finding that it amplifies existing financial system…
The emergence of agentic artificial intelligence (AI) represents a fundamental transformation in financial markets, characterized by autonomous systems capable of reasoning, planning, and adaptive decision-making with minimal human…
Recent developments in artificial intelligence (AI) have permeated through an array of different immersive environments, including virtual, augmented, and mixed realities. AI brings a wealth of potential that centers on its ability to…
Amid ongoing policy and managerial debates on keeping humans in the loop of AI decision-making, we investigate whether human involvement in AI-based service production benefits downstream consumers. Partnering with a large savings bank in…
In today's world, with the rise of numerous social platforms, it has become relatively easy for anyone to spread false information and lure people into traps. Fraudulent schemes and traps are growing rapidly in the investment world. Due to…
Artificial Intelligence is one of the most significant and prominent technological innovations which has reshaped all aspects of human life on the lines of ease from magnitudes like shopping, data collection, driving, everyday life, medical…
Organizations investing in artificial intelligence face a fundamental challenge: traditional return on investment calculations fail to capture the dual nature of AI implementations, which simultaneously reduce certain operational risks…
This paper investigates the impact of objective financial knowledge, confidence in one's financial skills, and digital financial literacy on individuals' decisions to seek financial advice from robo-advice platforms. Using microdata from…