Influence of Robo-Advisory Services on the Investment Decisions

In the fast changing landscape of financial markets, artificial intelligence is making inroads into it. Artificial intelligence is a concept or technological advancement which aims to mirror intelligence exhibited by the human beings and executes all the jobs to the perfection. Financial or investment domain is not an exception to this. Newer technologies are making their way to the horizon like Large Language Models (LLMs) as they present themselves into innovative and interactive methods of extracting information for making informed investment decisions. Before making any investment decision one has to look at various aspects and pay attention to various reports and constantly monitor the changes in stock prices, which is a very difficult job every person can’t claim to master this art, in this artificial intelligence comes to the rescue of such persons who can’t perform such tasks carefully. The present study is an attempt in this regard and it consists of respondents who are living in Delhi national capital of India. Data was collected with the help of questionnaire and analyzed by employing multiple regression method to ascertain the effect of artificial intelligence on investment decisions in addition to overconfidence bias which was another factor studied with artificial intelligence.