Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review
Shall Regulators Introduce Special Rules for Robo Advising Services? / Алексеенко, Александр Петрович.
New Trends in Disruptive Technologies, Tech Ethics and Artificial Intelligence. Cham : Springer Nature, 2022. p. 190-198 (Advances in Intelligent Systems and Computing; Vol. 1410).Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review
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TY - GEN
T1 - Shall Regulators Introduce Special Rules for Robo Advising Services?
AU - Алексеенко, Александр Петрович
PY - 2022
Y1 - 2022
N2 - Digital technologies have changed the sphere of investments dramatically. Robo-advisors based on artificial intelligence and automated algorithms introduced new opportunities for investors. Limited in money private investors have got a cheap tool, which helps them to create and manage their portfolios. This paper aims to identify the main challenges connected with robo-advising services and propose key principles of establishing the legal framework for them. Analysis has shown that except benefits to consumers, robo-advisors raises a lot of risks related to information disclosure, conflict of interest, inability to clarify complete financial situation of a consumer. National regulators react differently on named challenges. The U.S.A., Germany, China and Russia apply general rules for market regulation, while Australia, Singapore and the U.K. established guidelines stressing the necessity to protect unsophisticated investors from robo-advising related risks. The paper concludes that legally binding standards for shaping robo-advisors and providing robo-advising services are necessary.
AB - Digital technologies have changed the sphere of investments dramatically. Robo-advisors based on artificial intelligence and automated algorithms introduced new opportunities for investors. Limited in money private investors have got a cheap tool, which helps them to create and manage their portfolios. This paper aims to identify the main challenges connected with robo-advising services and propose key principles of establishing the legal framework for them. Analysis has shown that except benefits to consumers, robo-advisors raises a lot of risks related to information disclosure, conflict of interest, inability to clarify complete financial situation of a consumer. National regulators react differently on named challenges. The U.S.A., Germany, China and Russia apply general rules for market regulation, while Australia, Singapore and the U.K. established guidelines stressing the necessity to protect unsophisticated investors from robo-advising related risks. The paper concludes that legally binding standards for shaping robo-advisors and providing robo-advising services are necessary.
UR - https://link.springer.com/chapter/10.1007/978-3-030-87687-6_19
UR - https://www.mendeley.com/catalogue/84361440-c2bd-366e-8200-f946f4eb331e/
U2 - 10.1007/978-3-030-87687-6_19
DO - 10.1007/978-3-030-87687-6_19
M3 - Conference contribution
SN - 978-3-030-87686-9
T3 - Advances in Intelligent Systems and Computing
SP - 190
EP - 198
BT - New Trends in Disruptive Technologies, Tech Ethics and Artificial Intelligence
PB - Springer Nature
CY - Cham
T2 - DiTTEt 2021: Disruptive Technologies Tech Ethics and Artificial Intelligent
Y2 - 15 September 2021 through 17 September 2021
ER -
ID: 97426761