Not too long ago, Robo Advisors were poised to create a remarkable US$1.2 Trillion industry in 2024, at least in the United States according to a CNBC article* citing analysts. Their growth in China was even more astonishing. But what halted their meteoric rise? To gain insights, let's delve into Dr. Di Xingsi's study titled 'Regulating Robo-Advisors and the Role of Fiduciary Duties' in this HKU FinTech Spotlight video.
Di explores the safeguarding of financial stability, security, and customer protection as AI reshapes finance. She tackle the challenges of applying fiduciary duties to AI-driven robo-advisors while comparing regulatory strategies in China and the U.S. She underscores the importance of mutual learning between these giants to establish a robust regulatory framework. The evolving financial landscape highlights the significance of consistent goals for protecting consumers and promoting innovation, ultimately unlocking the full potential of AI.