Should your Wealth Management updated with Technology?

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·@codingdefined·
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Should your Wealth Management updated with Technology?
We have seen tremendous growth in technology and which is affecting every sector including how the individual does their wealth management. This technology disruption made some sectors vanish whereas for some sectors it is a boon. With technological advancement creating a portfolio does not require you to use spreadsheets and mathematical calculations, it is just done with the help of some clicks. And thus with Artificial Intelligence, we are getting straightforward solutions to some of the complex financial problems.

![image.png](https://i.imgur.com/BBqFpRP.jpg)
PC: Pixabay.com

As an investor it is a boon, now we do not have to run around some financial managers to get the information, all the data is in front of us and thus we have access to the whole financial ecosystem. One thing, which has changed is that previously it used to take a lot of paperwork to even do a simple transaction whereas now since everything is digital, one can easily start any financial transaction.

With AI, the investor has all the data so that they can actually check how their portfolio will change with time. Along with that we have automated investment where we will have zero effort to be done when creating the portfolio. With AI the result will be totally unbiased and it is not prone to human error which sometimes happens. There is no human bias and thus everything will be in front of the people to check and invest. And this is just the starting, when the technology is evolving we will see much more improved wealth management.

There are algorithms that can predict the price movement whereas before people have to manually predict the movement of the stocks because the along has all the data which it needs and thus it is prone to very less error and gives almost correct data. I said almost because no one can predict the future, these algorithms try to analyze the old data to get the new data.

One more good thing about technology is that we can actually test our portfolio with every market condition. Like when I have created my portfolio, I can see how it will behave when the market goes down or up. This is actually good because we have so many solutions now without having an agent in between. Thus it is exciting times ahead because now with more technological advancement we will see much greater updation of the portfolio.


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