Artificial Intelligence, Member Exclusive

Human financial experts may be too challenging to automate — hybrid solutions are the next-best thing

  • For now, humans continue to offer financial expertise that can’t be automated.
  • So instead of trying to replace financial advisors altogether, companies are focusing on automating the gap between users and experts.
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Human financial experts may be too challenging to automate — hybrid solutions are the next-best thing

Technology has managed to do a lot of things in finance, but there still seem to be places where it can only do so much: specifically, with financial advice. 

In general, people’s finances tend to be things that impact them on a highly emotional and personal level. 90% of Americans say managing their finances causes them anxiety, for example.

With this in mind, certain fintechs and incumbents have been turning more to hybrid solutions — automating what they can and leaving the rest to the human experts. 

Albert, for instance, has taken a hybrid approach to providing financial advice to people. The company has a team of financial experts that users are able to text. The advice these experts provide is then automated to match other similar scenarios.

 


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