Emotions in Robo-Advisory: Understanding Biases, Designing Sensitive Platforms, and Enhancing User Experience through Emotional Intelligence

Sharmila VP; Bhartendu Singh

doi:10.36948/ijfmr.2024.v06i06.29874

Emotions in Robo-Advisory: Understanding Biases, Designing Sensitive Platforms, and Enhancing User Experience through Emotional Intelligence

Author(s)	Sharmila VP, Bhartendu Singh
Country	India
Abstract	Introduction: Robo-advisory services revolutionize investment management by providing automated, data-centric solutions, utilizing vast data sets to tailor investment plans to individual client needs. However, the importance of emotions in investor behavior is still a crucial but sometimes disregarded feature of these systems. By using automated procedures and computational calculations to provide customized investment options, robo-advisors have completely transformed the investment management industry. Purpose: The article explores how robo-advisory services can improve investor outcomes by addressing emotional biases in investment decisions. It proposes emotionally intelligent robo- advisors that understand investor sentiment and addresses challenges, empowering investors to achieve long-term financial goals. Methodology: The article explores the challenges of integrating emotional intelligence into robo- advisory services through a comprehensive review of the existing literature, focusing on behavioral finance and empirical evidence to understand the practical implications of irrational behavior through reviewing case studies and empirical evidence. Result: The study suggests a multi-faceted approach for designing emotionally intelligent robo-advisors, considering technological innovation, regulatory compliance, ethical considerations, and user engagement strategies, addressing challenges like algorithmic biases, privacy concerns, and regulatory compliance.
Keywords	Behavioural bias, Irrational decisions, Robo-advisors, Investment decision-making, Emotionally intelligent robo-advisors
Field	Computer > Automation / Robotics
Published In	Volume 6, Issue 6, November-December 2024
Published On	2024-11-16
Cite This	Emotions in Robo-Advisory: Understanding Biases, Designing Sensitive Platforms, and Enhancing User Experience through Emotional Intelligence - Sharmila VP, Bhartendu Singh - IJFMR Volume 6, Issue 6, November-December 2024. DOI 10.36948/ijfmr.2024.v06i06.29874
DOI	https://doi.org/10.36948/ijfmr.2024.v06i06.29874
Short DOI	https://doi.org/g8rd56

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Emotions in Robo-Advisory: Understanding Biases, Designing Sensitive Platforms, and Enhancing User Experience through Emotional Intelligence

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