NAPF 2015: robo-advice is 'imminent' says Capita
The arrival of robo-advice into the pensions industry is "imminent" according to Capita Employee Benefits chief data scientist Eric Tyree.
Speaking at the NAPF Annual Conference, Tyree said demand for robo-advice was coming from providers and the Financial Conduct Authority (FCA).
The technology was already there and some retail vendors had already started to use it.
He said: "The FCA stood up, their attitude is not negative and it is not neutral. They actually want to make this happen. They want people to start using this because they see it as a way to provide great value to consumers who may not be able to get access to advice.
This is something that is going to become a big player within the industry within one or two years I think."
He compared the introduction and spread of robo-advice to tablets. "Once these new technologies come out and they tend to be useful they hit fast," he added.
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