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.
close

Email a Friend

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.

 


This content is available exclusively to Tearsheet Outlier members.

Tearsheet Outlier information and signup Missing out? Subscribe today and you’ll receive unlimited access to all Tearsheet content, original research, exclusive webinars and events, member-only newsletters from Tearsheet editors and reporters and much more. Join Outlier now — $79/mo. Already an Outlier member? Sign in to your account

0 comments on “Human financial experts may be too challenging to automate — hybrid solutions are the next-best thing”

Innovation, Member Exclusive

Slack and Salesforce launch industry-specific digital solutions – what’s in it for FIs?

  • Slack and Salesforce have built solutions to help their customers make the most of their digital tools.
  • How will these solutions benefit financial firms?
Sara Khairi | September 26, 2022
Data Snacks, Member Exclusive

Data Snack: On messaging and personalization in the financial industry

  • Times have changed and consumers expect more from their FIs. That includes messaging.
  • But when it comes to what messages to send, there’s no one-size-fits-all. That’s where personalization comes in.
Rivka Abramson | September 23, 2022
Member Exclusive, Modern Marketing

Marketing Briefing: The future of NFTs in loyalty programs

  • Starbucks has been getting a lot of attention for its moves surrounding NFTs.
  • Will NFTs find their home in loyalty programs?
Rivka Abramson | September 22, 2022
Data Snacks, Member Exclusive

Data Snack: How was Q2 2022 for fintech investments?

  • Fintech investment in Q2 2022 was the lowest in five straight quarters, at $21.5 billion.
  • Unicorn creation in fintech dropped down near pre-pandemic levels in Q2, with just 25 new unicorns being formed globally.
Subboh Jaffery | September 20, 2022
Green Finance, Member Exclusive

Green Finance Briefing: Consumers want more sustainable banking

  • Studies show that consumers are increasingly looking to align their values with their wallets – and younger generations are taking the charge in sustainable investing.
  • We also look at the climate tech space with an ecosystem map, and have a great suggestion for your next movie night – a new documentary on greenwashing.
Iulia Ciutina | September 16, 2022
More Articles