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Kevin
23 Oct 2020
Mechanical Engineering at Nanyang Technological University
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Silvester Leo
23 Oct 2020
Risk and Wealth Management at Self-Employed
There are many risks we need to consider with regards to AI:
Accountability
Limitations to Market exposures
Similar to a tesla car, in the event of a car crash, who is responsible for the accident? the driver? the AI? the owner of the AI?
When an economic recession happen, who would be accountable for your losses?
There will be a time where AI is advanced enough to learn & identify how equity valuation is affected by the economy. Until then, if you're looking at high-yield investments, the risk of using a robo-advisor might be as good as gambling into bitcoin.
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Gabriel
17 Oct 2020
Undergraduate at National University of Singapore
Hey Amos, great question! I don't think there's a best robo-advisor per se. Different robo-advisors ...
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My recommendation would be Syfe or StashAway. Main reason is that it has a $0 minimum deposit. Speaking as a fellow NSF, we need to be prudent with whatever we spend on, including our investments. Over-investing is a danger with high volatility the market has shown in the past few months. Therefore it would be good to start small but consistently by regularly investing about $100 a month into either of these robos.
Hope this helps! 😀