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The crisis has become an unwanted but unavoidable part of the financial industry. The main observation is how each industry survived such a financial crisis.

In 2008, the major financial crisis leading to the devastation of the complete financial world saw a Messiah in Robo-advisors.

Little did the concept was fully publicized. Robo-advisors are digital platform service providers with complex algorithm-driven financial planning services to provide automated service with no human supervision.

The concept took birth during the financial crisis of 2008. The event triggered the small investors to pull the money out of equities leading to a cash surplus and an interest rate touching zero.

The leading Robo-advisory firm got the opportunity and encouraged the investors to invest in algorithm-driven portfolios for a steady financial return.

The opportunity turned out to be supported by most of the developed countries and a buzzword among the wealth management industry.

The buzz generated enough amount of confidence among the traditional players also for their solutions.

The graphical representations of the development of the assets under management of Robo-advisors across the world until 2023: –

In my opinion, the financial setback in 2008 led to the development of one of the finest technology tools in the financial world. It is no doubt most developed nations or countries are using the Robo-advisor vigorously. The processing of the huge data in a bulk amount is an added advantage for any financial data analyst.

Source:- Statista (Robo-Advisors)