Charles Schwab States a Case for AI 'Robo-Advisors'

Among the myriad of banks, brokers and investment companies that are investing in artificial intelligence technology, Schwab made a the leap to using artificial intelligence in the form of 'Robo-Advisors' to directly manage customers' assets. Under Schwab's automated investing page, the case for this technology is clearly laid out:

"Since their introduction nearly a decade ago, robo-advisors have become more mainstream with hundreds of options now available. They have become popular with novice investors because they have low starting deposits and don’t require in-depth market knowledge. For experienced investors, robo-advisors can automate complex time-consuming activities like rebalancing and tax-loss harvesting." (Schwab)

Schwab has developed these artificial intelligence portfolio creators with the intent on clients using them in order to receive a bias-free, risk-managed, balanced portfolio on demand. Additionally, according to Schwab, over $1.2 trillion dollars will be managed by these artificial intelligence 'robot-advisors' across various firms during 2024.

With Schwab bringing these tools to the market and continuing to push for better AI programs, they will always be a company which is at the forefront of the ever-growing group of corporations who have made the decision to invest large amounts of capital into AI technology and its applications in finance