Exploring the Nexus of Robotic Advisory, Digital Fluency, and Financial Literacy in the Future Investment Landscape – A Systematic Review
Exploring the Nexus of Robotic Advisory, Digital Fluency, and Financial Literacy in the Future Investment Landscape – A Systematic Review

Summary/Abstract: Research background: The emergence of financial technology, namely robo-advice (RA), has transformed wealth management by increasing accessibility to customized financial guidance, extending beyond the realm of affluent individuals. Robo-advisors, changing the financial advice sector, use artificial intelligence and algorithms to provide customized portfolio recommendations that align with investors’ risk tolerance and investment objectives. Purpose: This paper explores the complex relationships between financial literacy, robo-advisory services, and digital fluency. These relationships are essential for comprehending investing behaviours within a quickly changing digital ecosystem. Research methodology: This study employs a systematic review methodology to investigate the interplay between robotic advisory, digital fluency, and financial literacy. Using a SWOT analysis, we contrast the benefits and downsides of robo-advisers with traditional financial advisors, illuminating the potentially revolutionary nature of RA. Results: The Indian robo-advisory industry is promising but there are still obstacles to overcome, including security issues and governmental oversight. Global robo-advisory platforms are still developing, but India’s growth trajectory is unique because of changes in regulations and the country’s acceptance of digital technology. Despite regulatory and literacy issues, the robo-advisory market in India is expected to grow to a value of US$25.74 billion by 2027 (Ken Research, 2022), indicating market potential (Singh, 2023). While this is in line with general trends, it also draws attention to particular issues such a lack of financial literacy, cautious investor sentiment, and a preference for traditional advisors (Singh, 2023; Bhattacharyya, Bhattacharyya, 2022). Novelty: The study offers a novel viewpoint on the expanding robo-advisory services industry, especially in light of digital fluency and financial literacy. Although robo-advisors have been the subject of earlier research, this work fills a gap in the literature by highlighting the significance of digital fluency and financial literacy.

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