The robo-advice sector is unlikely to expand until "incumbent" companies adopt the technology, according to Pete Connell, managing director of Wealth Wizards. Giovanni Dapra, chief executive of MoneyFarm, said it was a “no brainer” Giovanni Dapra, chief executive of MoneyFarm said that although it was likely bigger companies would move into the sector, he hoped there would start-ups would get "three or five years of opportunity" to make their mark. But Mr Connell warned that while robots could be used for a variety of tasks, they were not yet ready to replace human workers.
The robo-advice sector is unlikely to expand until "incumbent" companies adopt the technology, according to Pete Connell, managing director of Wealth Wizards. Giovanni Dapra, chief executive of MoneyFarm said that although it was likely bigger companies would move into the sector, he hoped there would start-ups would get "three or five years of opportunity" to make their mark. But Mr Connell warned that while robots could be used for a variety of tasks, they were not yet ready to replace human workers.