Back in 2016 the Bank of America raised an interest in
financial robo-advisory. Two years later, Wealthfront was the first
fully automated advisor offering free, personalised financial
planning for its customers.
According to the Business Insider Intelligence, by 2022
robo-advisors will be managing USD 4.6 trillion1.
Robo-advisory is a good chance to speed up financing processes and
to avoid analytical errors which could be made due to human
tendencies like prejudices.
In May 2020 the Polish Financial Supervision Authority (Komisja
Nadzoru Finansowego; "KNF") issued a first draft
statement on robo-advice in investment planning
("Statement"). As explained in the Statement,
robo-advisory is a form of automated financial consulting usually
applied in the areas of investment advice, loans and insurance. The
solution is based on advanced algorithms, artificial intelligence
(AI), machine learning and tools for analysis of large data sets
(Big Data).
